RB Global (RBA) Set to Announce Quarterly Earnings on Friday

RB Global (NYSE:RBA) (TSE:RBA) is scheduled to be releasing its earnings data before the market opens on Friday, November 8th. Analysts expect RB Global to post earnings of $0.62 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted $0.42 EPS. The business’s revenue was down .9% compared to the same quarter last year. On average, analysts expect RB Global to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

RB Global Price Performance

Shares of RBA stock opened at $86.62 on Wednesday. The stock’s 50-day moving average is $83.38 and its 200 day moving average is $79.41. RB Global has a 1-year low of $58.85 and a 1-year high of $87.45. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. The company has a market cap of $15.97 billion, a P/E ratio of 48.66, a PEG ratio of 5.55 and a beta of 0.92.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RBA shares. Robert W. Baird lifted their price objective on shares of RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Royal Bank of Canada lifted their price target on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Raymond James increased their price objective on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. BMO Capital Markets started coverage on RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price on the stock. Finally, Bank of America increased their price target on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RB Global currently has an average rating of “Moderate Buy” and an average price target of $92.19.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $83.09, for a total value of $1,485,898.47. Following the sale, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at $7,166,263.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the transaction, the insider now directly owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Francis Kessler sold 17,883 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the sale, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,601 shares of company stock worth $3,720,043 over the last three months. 4.10% of the stock is currently owned by insiders.

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.