Q3 2024 Earnings Estimate for RB Global, Inc. (NYSE:RBA) Issued By Raymond James

RB Global, Inc. (NYSE:RBA) (TSE:RBA) – Equities researchers at Raymond James decreased their Q3 2024 earnings per share estimates for shares of RB Global in a research note issued to investors on Tuesday, October 1st. Raymond James analyst S. Hansen now forecasts that the business services provider will post earnings per share of $0.32 for the quarter, down from their prior estimate of $0.44. Raymond James currently has a “Outperform” rating and a $98.00 price objective on the stock. The consensus estimate for RB Global’s current full-year earnings is $1.96 per share. Raymond James also issued estimates for RB Global’s Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $1.92 EPS and FY2025 earnings at $2.40 EPS.

A number of other analysts have also recently weighed in on the stock. BMO Capital Markets initiated coverage on shares of RB Global in a research note on Thursday, September 5th. They set an “outperform” rating and a $105.00 target price on the stock. Robert W. Baird boosted their price objective on RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. CIBC began coverage on RB Global in a research report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 target price for the company. Bank of America boosted their price target on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, Royal Bank of Canada raised their price objective on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.19.

RB Global Trading Down 0.0 %

Shares of RB Global stock opened at $80.02 on Thursday. The firm’s 50 day moving average is $82.03 and its 200 day moving average is $78.01. The firm has a market capitalization of $14.74 billion, a PE ratio of 48.20, a price-to-earnings-growth ratio of 5.13 and a beta of 0.93. RB Global has a 1 year low of $58.85 and a 1 year high of $87.45. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last released its 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. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 earnings per share.

Institutional Trading of RB Global

Hedge funds have recently modified their holdings of the stock. Vontobel Asset Management Inc. boosted its stake in RB Global by 66.5% during the fourth quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock worth $467,920,000 after acquiring an additional 2,655,388 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of RB Global by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after buying an additional 1,153,497 shares during the period. Bank of New York Mellon Corp increased its position in RB Global by 142.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock valued at $102,154,000 after buying an additional 787,042 shares in the last quarter. CIBC Asset Management Inc increased its position in RB Global by 1,879.0% in the 2nd quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after buying an additional 594,941 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in RB Global by 3,387.9% during the 2nd quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock worth $46,712,000 after buying an additional 594,199 shares during the period. Institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the transaction, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global 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 sale, the insider now directly owns 19,271 shares in the company, valued at $1,595,638.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,261,134.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,601 shares of company stock valued at $3,720,043. 4.32% of the stock is currently owned by company insiders.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were issued a $0.29 dividend. The ex-dividend date was Wednesday, August 28th. This is a boost from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 1.45%. RB Global’s dividend payout ratio is presently 69.88%.

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.