Upbound Group (NASDAQ:UPBD) Issues FY 2024 Earnings Guidance

Upbound Group (NASDAQ:UPBD) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 3.550-4.000 for the period, compared to the consensus EPS estimate of 3.770. The company issued revenue guidance of $4.0 billion-$4.2 billion, compared to the consensus revenue estimate of $4.1 billion.

Analyst Ratings Changes

A number of analysts have commented on UPBD shares. KeyCorp raised their price objective on Upbound Group from $39.00 to $41.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. TD Cowen started coverage on Upbound Group in a research note on Friday, March 8th. They issued an outperform rating and a $43.00 target price for the company. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of Buy and an average price target of $38.17.

Upbound Group Price Performance

NASDAQ UPBD traded up $0.59 during trading on Monday, reaching $31.36. 397,146 shares of the company traded hands, compared to its average volume of 390,887. Upbound Group has a 1-year low of $25.00 and a 1-year high of $36.17. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -68.17, a P/E/G ratio of 4.03 and a beta of 1.99. The stock’s 50 day moving average price is $32.80 and its two-hundred day moving average price is $31.94. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.72 and a current ratio of 3.49.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. Upbound Group had a positive return on equity of 33.40% and a negative net margin of 0.61%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. Upbound Group’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, analysts anticipate that Upbound Group will post 3.76 EPS for the current year.

Upbound Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Wednesday, April 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend was Tuesday, April 2nd. Upbound Group’s dividend payout ratio (DPR) is currently -321.74%.

Insider Buying and Selling at Upbound Group

In other news, Director Jeffrey J. Brown acquired 991 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was bought at an average price of $30.68 per share, with a total value of $30,403.88. Following the completion of the acquisition, the director now owns 83,138 shares in the company, valued at approximately $2,550,673.84. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Upbound Group news, Director Jeffrey J. Brown acquired 991 shares of Upbound Group stock in a transaction on Monday, April 22nd. The shares were bought at an average price of $30.68 per share, with a total value of $30,403.88. Following the completion of the purchase, the director now owns 83,138 shares in the company, valued at $2,550,673.84. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony J. Blasquez sold 12,485 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $33.18, for a total value of $414,252.30. Following the completion of the sale, the executive vice president now owns 58,967 shares of the company’s stock, valued at $1,956,525.06. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

About Upbound Group

Upbound Group, Inc leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. It operates through four segments: Rent-A-Center, Acima, Mexico, and Franchising. The company's brands, such as Rent-A-Center and Acima that facilitate consumer transactions across a range of store-based and virtual channels.