Q3 2024 Earnings Forecast for RB Global, Inc. Issued By Raymond James (TSE:RBA)

RB Global, Inc. (TSE:RBA) (NYSE:RBA) – Analysts at Raymond James reduced their Q3 2024 earnings estimates for shares of RB Global in a research report issued to clients and investors on Tuesday, October 1st. Raymond James analyst S. Hansen now forecasts that the company will post earnings of $0.44 per share for the quarter, down from their previous estimate of $0.60. The consensus estimate for RB Global’s current full-year earnings is $5.06 per share. Raymond James also issued estimates for RB Global’s Q4 2024 earnings at $0.71 EPS, FY2024 earnings at $2.61 EPS and FY2025 earnings at $3.26 EPS.

RB Global (TSE:RBA) (NYSE:RBA) last released its quarterly earnings results on Tuesday, August 6th. The company reported C$0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.82 by C($0.08). RB Global had a net margin of 8.68% and a return on equity of 6.61%. The business had revenue of C$1.50 billion during the quarter, compared to the consensus estimate of C$1.54 billion.

Separately, BMO Capital Markets upgraded shares of RB Global to a “strong-buy” rating in a research report on Thursday, September 5th.

RB Global Stock Up 0.5 %

Shares of RBA opened at C$108.54 on Thursday. The company has a debt-to-equity ratio of 80.04, a quick ratio of 1.00 and a current ratio of 1.29. RB Global has a 52 week low of C$80.97 and a 52 week high of C$117.55. The firm has a market capitalization of C$20.00 billion, a price-to-earnings ratio of 44.12, a PEG ratio of 2.43 and a beta of 0.93. The business’s fifty day moving average price is C$111.61 and its two-hundred day moving average price is C$106.25.

RB Global Increases Dividend

The firm also recently announced a 1 dividend, which was paid on Wednesday, August 28th. Shareholders of record on Friday, January 1st were issued a dividend of $1.602 per share. The ex-dividend date was Wednesday, September 18th. This is a positive change from RB Global’s previous 1 dividend of $1.49. RB Global’s payout ratio is currently 64.23%.

Insider Activity

In related news, Senior Officer James Jeffrey Jeter sold 3,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of C$85.55, for a total transaction of C$256,650.00. 0.29% of the stock is currently owned by company insiders.

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.