RB Global (NYSE:RBA) Posts Earnings Results, Misses Expectations By $0.23 EPS

RB Global (NYSE:RBA) (TSE:RBA) posted its quarterly earnings results on Tuesday. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23), Zacks reports. RB Global had a net margin of 9.06% and a return on equity of 7.41%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company earned $0.82 EPS.

RB Global Trading Up 7.5 %

RBA traded up $7.27 on Wednesday, reaching $103.83. 265,352 shares of the company traded hands, compared to its average volume of 921,083. RB Global has a one year low of $65.99 and a one year high of $106.90. The firm has a fifty day simple moving average of $91.45 and a two-hundred day simple moving average of $87.87. The company has a market cap of $19.18 billion, a P/E ratio of 56.50, a price-to-earnings-growth ratio of 4.01 and a beta of 0.96. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.12%. RB Global’s dividend payout ratio is presently 63.04%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RBA shares. Robert W. Baird raised their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday. CIBC decreased their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets increased their price target on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada raised their target price on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.64.

About RB Global

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.