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

RB Global (NYSE:RBA) (TSE:RBA) posted its quarterly earnings data on Tuesday. The business services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 Price Performance

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

RB Global Announces Dividend

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On RB Global

A number of hedge funds have recently modified their holdings of RBA. State of Wyoming bought a new position in shares of RB Global during the 2nd quarter worth approximately $46,000. Geneos Wealth Management Inc. raised its stake 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 acquiring an additional 97 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of RB Global by 53.1% during the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 204 shares during the period. Sfam LLC bought a new position in shares of RB Global during the fourth quarter valued at $82,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in shares of RB Global by 437.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 779 shares of the business services provider’s stock valued at $84,000 after purchasing an additional 634 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada upped their price target on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Weiss Ratings restated a “hold (c+)” rating on shares of RB Global in a research note on Thursday, January 22nd. Raymond James Financial lifted their price target on RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. National Bank Financial upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target for the company in a report on Monday, November 24th. Finally, Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.