Q3 2024 EPS Estimates for RB Global, Inc. (NYSE:RBA) Cut by Analyst

RB Global, Inc. (NYSE:RBA) (TSE:RBA) – Investment analysts 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 anticipates that the business services provider will post earnings of $0.32 per share for the quarter, down from their previous estimate of $0.44. Raymond James 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.

Several other research analysts have also recently weighed in on the company. Bank of America boosted their target price on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. BMO Capital Markets began coverage on RB Global in a report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price objective on the stock. Royal Bank of Canada upped their price objective on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. CIBC began coverage on RB Global in a report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price objective on the stock. Finally, Robert W. Baird upped their price objective on RB Global from $80.00 to $86.00 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.19.

RB Global Trading Up 1.4 %

Shares of RB Global stock opened at $81.21 on Thursday. The stock has a market cap of $14.85 billion, a P/E ratio of 48.92, a P/E/G ratio of 5.13 and a beta of 0.93. The stock’s 50 day simple moving average is $82.11 and its 200-day simple moving average is $78.08. 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.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.06. The business 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS.

Institutional Trading of RB Global

A number of large investors have recently modified their holdings of RBA. YHB Investment Advisors Inc. purchased a new stake in shares of RB Global during the first quarter worth $27,000. Hollencrest Capital Management purchased a new stake in shares of RB Global during the first quarter worth $33,000. Massmutual Trust Co. FSB ADV increased its position in shares of RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after acquiring an additional 165 shares during the period. Quarry LP purchased a new stake in shares of RB Global during the second quarter worth $53,000. Finally, Nisa Investment Advisors LLC increased its position in shares of RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after acquiring an additional 210 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling at RB Global

In other RB Global news, CRO James J. Jeter sold 2,920 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the sale, the executive now owns 23,267 shares of the company’s stock, valued at $1,837,162.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other RB Global news, CRO James J. Jeter sold 2,920 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the sale, the executive now owns 23,267 shares of the company’s stock, valued at $1,837,162.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the chief executive officer now directly owns 86,247 shares in the company, valued at approximately $7,261,134.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,601 shares of company stock valued at $3,720,043 over the last quarter. 4.32% of the stock is owned by company insiders.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were given a $0.29 dividend. This is a positive change from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a yield of 1.43%. RB Global’s 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.