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

Key Points

• RB Global increased its quarterly dividend 6.5% to $0.33 per share from $0.31. Shareholders of record on August 25 will be paid on September 17, with the dividend yielding approximately 1.5% annually.
• The dividend appears well covered, with a current payout ratio of 32.4%; analysts expect next year’s earnings to support a projected payout ratio of 27.7%. The company has raised its dividend for 20 consecutive years.
• Analysts maintain a generally positive view, giving RB Global a “Moderate Buy” consensus rating and an average price target of $128, while the company recently exceeded quarterly earnings and revenue expectations.

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA declared a quarterly dividend on Tuesday, July 21st. Shareholders 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 of this dividend 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 by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 20 years. RB Global has a payout ratio of 32.4% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

RBA opened at $86.97 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. The company has a market capitalization of $16.10 billion, a price-to-earnings ratio of 37.33, a P/E/G ratio of 1.49 and a beta of 0.56. The firm's fifty day moving average price is $105.76 and its two-hundred day moving average price is $104.24. RB Global has a 1 year low of $82.03 and a 1 year high of $119.58.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results 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. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. As a group, analysts anticipate that RB Global will post 4.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on RBA shares. Raymond James Financial upgraded shares of RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 price objective for the company in a research note on Tuesday, June 30th. Royal Bank Of Canada boosted their target price on RB Global from $150.00 to $152.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. National Bank Financial upped their target price on RB Global from $132.00 to $133.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Stephens reaffirmed an "equal weight" rating and set a $96.00 price target on shares of RB Global in a research report on Tuesday, May 5th. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of RB Global in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $128.00.

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.

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