Upbound Group (NASDAQ:UPBD) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Upbound Group (NASDAQ:UPBD) announced its earnings results on Thursday. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02, Briefing.com reports. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. Upbound Group had a negative net margin of 0.13% and a positive return on equity of 32.65%. Upbound Group’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Upbound Group updated its FY24 guidance to $3.55-4.00 EPS.

Upbound Group Price Performance

NASDAQ UPBD traded up $0.39 on Friday, reaching $30.77. The company’s stock had a trading volume of 402,162 shares, compared to its average volume of 390,815. Upbound Group has a 52 week low of $25.00 and a 52 week high of $36.17. The company has a current ratio of 3.12, a quick ratio of 0.65 and a debt-to-equity ratio of 2.33. The firm has a market cap of $1.68 billion, a PE ratio of -256.40, a price-to-earnings-growth ratio of 4.14 and a beta of 1.99. The business has a 50-day moving average price of $32.84 and a 200 day moving average price of $31.88.

Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Wednesday, April 3rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Tuesday, April 2nd. Upbound Group’s payout ratio is -1,233.23%.

Wall Street Analysts Forecast Growth

UPBD has been the topic of several research analyst reports. KeyCorp raised their price target on shares of 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 began coverage on Upbound Group in a research report on Friday, March 8th. They set an “outperform” rating and a $43.00 target price on the stock. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Upbound Group has a consensus rating of “Buy” and a consensus target price of $38.17.

Insider Buying and Selling

In related news, Director Jeffrey J. Brown bought 991 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was acquired at an average price of $30.68 per share, for a total transaction of $30,403.88. Following the transaction, the director now directly owns 83,138 shares of the company’s stock, valued at $2,550,673.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Anthony J. Blasquez sold 12,485 shares of Upbound Group stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $33.18, for a total transaction of $414,252.30. Following the completion of the transaction, the executive vice president now directly owns 58,967 shares of the company’s stock, valued at approximately $1,956,525.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey J. Brown acquired 991 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were purchased at an average cost of $30.68 per share, for a total transaction of $30,403.88. Following the completion of the purchase, the director now directly owns 83,138 shares of the company’s stock, valued at approximately $2,550,673.84. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.

Upbound Group Company Profile

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.