RB Global, Inc. (NYSE:RBA) Announces 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 paid 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 dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, February 6th.

RB Global has increased its dividend by an average of 6.0% annually over the last three years and has raised its dividend every year for the last 20 years. RB Global has a dividend payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

RBA traded up $1.55 during midday trading on Tuesday, hitting $90.80. 1,652,743 shares of the company were exchanged, compared to its average volume of 802,320. The firm has a market capitalization of $16.77 billion, a price-to-earnings ratio of 49.35, a price-to-earnings-growth ratio of 3.36 and a beta of 0.96. The company’s 50 day simple moving average is $93.13 and its 200 day simple moving average is $86.10. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. RB Global has a 1-year low of $60.84 and a 1-year high of $99.79.

Wall Street Analysts Forecast Growth

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

RB Global Company Profile

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.