RB Global, Inc. (RBA) to Distribute Quarterly Dividend of $0.33 on September 17th

RB Global, Inc. (NYSE:RBA) (TSE:RBA) announced a quarterly dividend on Tuesday, July 21st. Shareholders of record on Tuesday, August 25th will be paid a dividend of 0.33 per share by the business services provider on Thursday, September 17th. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, August 25th. This is a 6.5% increase from RB Global’s previous quarterly dividend of $0.31.

RB Global has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 20 years. RB Global has a payout ratio of 32.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect RB Global to earn $4.76 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 27.7%.

RB Global Stock Performance

Shares of NYSE RBA opened at $86.97 on Friday. The stock has a market capitalization of $16.10 billion, a P/E ratio of 37.33, a P/E/G ratio of 1.49 and a beta of 0.56. RB Global has a 52-week low of $82.03 and a 52-week high of $119.58. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $105.76 and its two-hundred day moving average price is $104.24.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.21 billion. As a group, sell-side analysts forecast that RB Global will post 4.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

RBA has been the topic of a number of recent analyst reports. Weiss Ratings cut RB Global from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 17th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. BMO Capital Markets restated an “outperform” rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Stephens reaffirmed an “equal weight” rating and set a $96.00 target price on shares of RB Global in a research note on Tuesday, May 5th. Finally, Zacks Research lowered RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.00.

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.