Upbound Group (NASDAQ:UPBD) Releases FY24 Earnings Guidance

Upbound Group (NASDAQ:UPBD) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.55-4.00 for the period, compared to the consensus estimate of $3.81. The company issued revenue guidance of $4.00-4.20 billion, compared to the consensus revenue estimate of $4.13 billion.

Analyst Ratings Changes

Several brokerages recently issued reports on UPBD. KeyCorp upped their price objective on shares of Upbound Group from $39.00 to $41.00 and gave the company an overweight rating in a research note on Friday, February 23rd. TD Cowen initiated coverage on Upbound Group in a research note on Friday, March 8th. They set an outperform rating and a $43.00 price target on the stock. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $38.17.

Upbound Group Price Performance

UPBD stock traded up $0.39 on Friday, hitting $30.77. 402,164 shares of the company were exchanged, compared to its average volume of 426,682. The business’s fifty day moving average is $32.84 and its two-hundred day moving average is $31.90. Upbound Group has a twelve month low of $25.00 and a twelve month high of $36.17. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.65 and a current ratio of 3.12.

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

Upbound Group Announces Dividend

The firm 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 yield of 4.81%. The ex-dividend date was Tuesday, April 2nd. Upbound Group’s dividend payout ratio (DPR) is presently -321.74%.

Insider Buying and Selling at Upbound Group

In related news, EVP Anthony J. Blasquez sold 12,485 shares of the company’s stock in a transaction on 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 sale, 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 filing with the SEC, which can be accessed through the SEC website. In related news, Director Jeffrey J. Brown acquired 991 shares of Upbound Group 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 purchase, the director now directly owns 83,138 shares of the company’s stock, valued at approximately $2,550,673.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony J. Blasquez sold 12,485 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $33.18, for a total transaction of $414,252.30. Following the transaction, the executive vice president now directly owns 58,967 shares in the company, valued at approximately $1,956,525.06. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

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.