RB Global (TSE:RBA) Issues Quarterly Earnings Results

RB Global (TSE:RBA) (NYSE:RBA) announced its quarterly earnings results on Monday. The company reported C$1.40 EPS for the quarter, FiscalAI reports. The company had revenue of C$1.23 billion during the quarter. RB Global had a return on equity of 7.25% and a net margin of 9.32%.

RB Global Price Performance

Shares of TSE RBA opened at C$145.28 on Wednesday. RB Global has a fifty-two week low of C$129.44 and a fifty-two week high of C$164.85. The business has a 50 day moving average price of C$138.45 and a two-hundred day moving average price of C$142.71. The company has a quick ratio of 1.00, a current ratio of 1.10 and a debt-to-equity ratio of 91.08. The firm has a market cap of C$27.01 billion, a PE ratio of 71.22, a price-to-earnings-growth ratio of 2.43 and a beta of 0.27.

Wall Street Analysts Forecast Growth

Separately, Stephens upgraded RB Global to a “hold” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, RB Global has a consensus rating of “Moderate Buy” and an average target price of C$124.00.

RB Global announced that its Board of Directors has authorized a share repurchase plan on Monday, March 16th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

RB Global Company Profile

Ritchie Bros. operates the world’s leading marketplace for heavy equipment. The company started as a live auctioneer of industrial equipment, since then it has greatly expanded its operations to include the sale of construction, agricultural, oilfield, and transportation equipment. Ritchie Bros. operates over 40 live auction sites in more than 12 countries, along with online marketplaces, including IronPlanet, Marketplace-E, and GovPlanet. Its agricultural auctions are frequently much smaller venues and can include liquidations of single farms.