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

RB Global, Inc. (NYSE:RBA) (TSE:RBA) declared a quarterly dividend on Tuesday, January 21st,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Thursday, February 6th.

RB Global has raised its dividend payment by an average of 6.0% per year over the last three years and has raised 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. 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

Shares of RB Global stock traded up $1.55 on Tuesday, reaching $90.80. 1,652,743 shares of the company traded hands, compared to its average volume of 800,281. RB Global has a 52 week low of $60.84 and a 52 week high of $99.79. The company has a 50 day moving average of $93.13 and a 200 day moving average of $86.10. The firm has a market capitalization of $16.77 billion, a PE ratio of 49.35, a PEG ratio of 3.36 and a beta of 0.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17.

Wall Street Analysts Forecast Growth

RBA has been the topic of a number of recent research reports. Robert W. Baird upped their price target on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Royal Bank of Canada raised their price target on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. CIBC boosted their price objective on RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a research note on Thursday, December 12th. BMO Capital Markets increased 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. Finally, StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average target price 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.