RB Global has received Toronto Stock Exchange approval to expand its normal course issuer bid, lifting the potential repurchase pool to 14,224,129 shares or up to US$1 billion in total. The expanded buyback, alongside an earlier Q2 revenue beat, is helping rebuild momentum after a 90-day share price return decline of 19.76% and a 1-year total shareholder return fall of 25.77%, while the 5-year total shareholder return remains up 54.72%. RB Global shares closed at US$86.11, with a 1-day share price return of 2.48% and a 7-day gain of 5.17%. The company's most followed valuation narrative pegs fair value at $127.73, well above the last close, though RB Global trades on a P/E of 36.5x, higher than both the US Commercial Services industry at 19.8x and the peer average at 35.5x, and above an estimated fair ratio of 28.6x.
RB Global Inc.TSX approval expands RB Global's buyback pool to up to US$1 billion, a shareholder-return/valuation event.
Central Holding Group Co Ltd
