RB Global (NYSE:RBA) Announces Quarterly Earnings Results, Beats Expectations By $0.09 EPS

RB Global (NYSE:RBA) (TSE:RBA) posted its earnings results on Tuesday. The business services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09, Zacks reports. RB Global had a net margin of 9.65% and a return on equity of 9.66%.

RB Global Trading Up 2.4%

RBA traded up $2.48 during trading on Tuesday, reaching $104.48. The company had a trading volume of 2,812,553 shares, compared to its average volume of 1,583,159. The firm’s 50-day simple moving average is $109.10 and its 200 day simple moving average is $107.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.23. The company has a market cap of $19.42 billion, a price-to-earnings ratio of 49.99, a PEG ratio of 1.91 and a beta of 0.54. RB Global has a 12-month low of $87.87 and a 12-month high of $119.58.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 9th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. RB Global’s dividend payout ratio (DPR) is currently 59.33%.

Insider Activity at RB Global

In other news, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total value of $2,385,330.00. Following the transaction, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at $12,370,435. This trade represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RB Global

Large investors have recently made changes to their positions in the business. State of Wyoming bought a new position in shares of RB Global during the 2nd quarter valued at $46,000. Geneos Wealth Management Inc. increased its position in RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after buying an additional 97 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of RB Global by 53.1% in the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after buying an additional 204 shares during the last quarter. Sfam LLC bought a new stake in shares of RB Global during the 4th quarter worth about $82,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of RB Global by 437.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 779 shares of the business services provider’s stock valued at $84,000 after acquiring an additional 634 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RBA. Raymond James Financial increased their price objective on RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Royal Bank Of Canada increased their price target on RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings restated a “hold (c+)” rating on shares of RB Global in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Bank of America lowered their target price on shares of RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.00.

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.