RB Global (NYSE:RBA) Posts Quarterly 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 the consensus estimate of $0.81 by ($0.23), Zacks reports. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a return on equity of 8.03% and a net margin of 9.64%. During the same period in the prior year, the business earned $0.82 EPS.

RB Global Stock Down 1.2 %

Shares of RB Global stock traded down $1.23 on Thursday, reaching $103.50. The stock had a trading volume of 102,016 shares, compared to its average volume of 1,006,661. The company has a 50 day moving average price of $91.62 and a 200 day moving average price of $88.14. 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 has a 1 year low of $65.99 and a 1 year high of $106.90. The stock has a market capitalization of $19.12 billion, a P/E ratio of 51.53, a P/E/G ratio of 4.02 and a beta of 0.96.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, February 14th. RB Global’s payout ratio is currently 57.71%.

Analysts Set New Price Targets

RBA has been the topic of several recent analyst reports. StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets raised their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday. CIBC reduced 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 note on Monday, February 3rd. Royal Bank of Canada raised their price target on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Robert W. Baird raised their price target on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.64.

RB Global Company Profile

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.