RB Global, Inc. (NYSE:RBA) Announces Dividend Increase – $0.33 Per Share

RB Global, Inc. (NYSE:RBA) (TSE:RBA) announced a quarterly dividend on Tuesday, July 21st. Investors 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) annualized dividend and a 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 raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 20 consecutive years. RB Global has a payout ratio of 32.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.5%

Shares of RBA opened at $86.97 on Friday. RB Global has a fifty-two week low of $82.03 and a fifty-two week high of $119.58. The business has a 50-day moving average of $105.76 and a 200 day moving average of $104.24. The firm has a market cap of $16.10 billion, a P/E ratio of 37.33, a price-to-earnings-growth ratio of 1.49 and a beta of 0.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RBA. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings cut shares of RB Global from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Stephens reiterated an “equal weight” rating and issued a $96.00 price objective on shares of RB Global in a research note on Tuesday, May 5th. Royal Bank Of Canada boosted their target price on shares of RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Finally, Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price on the stock in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $128.00.

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.