RB Global, Inc. (NYSE:RBA) Declares Quarterly Dividend of $0.29

RB Global, Inc. (NYSE:RBA) (TSE:RBA) declared a quarterly dividend on Monday, January 20th,Wall Street Journal reports. Investors of record on Thursday, February 6th will be given a dividend of 0.29 per share by the business services provider on Monday, March 3rd. This represents a $1.16 annualized dividend and a yield of 1.28%. The ex-dividend date is Thursday, February 6th.

RB Global has raised its dividend by an average of 6.0% annually over the last three years and has increased its dividend annually for the last 20 consecutive years. RB Global has a dividend payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect RB Global to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 46.4%.

RB Global Trading Up 1.7 %

Shares of RBA traded up $1.55 during mid-day trading on Tuesday, hitting $90.80. The company had a trading volume of 1,652,743 shares, compared to its average volume of 802,320. RB Global has a 1-year low of $60.84 and a 1-year high of $99.79. The business’s 50-day simple moving average is $93.13 and its 200-day simple moving average is $86.10. The stock has a market cap of $16.77 billion, a PE ratio of 49.35, a P/E/G ratio of 3.36 and a beta of 0.96. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RBA shares. BMO Capital Markets upped their price objective on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. CIBC raised their price target on shares of RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a report on Thursday, December 12th. Robert W. Baird lifted their target price on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Royal Bank of Canada raised their price objective on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $100.36.

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.