RB Global (TSE:RBA) Issues Earnings Results

RB Global (TSE:RBA) (NYSE:RBA) posted its earnings results on Monday. The company reported C$1.40 EPS for the quarter, FiscalAI reports. The firm had revenue of C$1.23 billion for the quarter. RB Global had a return on equity of 7.25% and a net margin of 9.32%.

RB Global Price Performance

RBA traded up C$0.37 during trading on Monday, reaching C$143.09. The stock had a trading volume of 155,141 shares, compared to its average volume of 260,168. The stock has a 50 day moving average of C$138.37 and a two-hundred day moving average of C$142.72. The company has a quick ratio of 1.00, a current ratio of 1.10 and a debt-to-equity ratio of 91.08. The firm has a market capitalization of C$26.60 billion, a price-to-earnings ratio of 70.14, a price-to-earnings-growth ratio of 2.43 and a beta of 0.27. RB Global has a 1-year low of C$129.44 and a 1-year high of C$164.85.

RB Global announced that its Board of Directors has approved a stock buyback program on Monday, March 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, Stephens raised RB Global to a “hold” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, RB Global has an average rating of “Moderate Buy” and an average target price of C$124.00.

About RB Global

Ritchie Bros. operates the world’s leading marketplace for heavy equipment. The company started as a live auctioneer of industrial equipment, since then it has greatly expanded its operations to include the sale of construction, agricultural, oilfield, and transportation equipment. Ritchie Bros. operates over 40 live auction sites in more than 12 countries, along with online marketplaces, including IronPlanet, Marketplace-E, and GovPlanet. Its agricultural auctions are frequently much smaller venues and can include liquidations of single farms.