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

Upbound Group (NASDAQ:UPBD) issued an update on its FY 2024 earnings guidance on Friday morning. 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 Upgrades and Downgrades

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

Upbound Group Trading Up 1.9 %

Upbound Group stock traded up $0.59 during midday trading on Monday, reaching $31.36. The stock had a trading volume of 397,146 shares, compared to its average volume of 390,887. The company has a quick ratio of 0.72, a current ratio of 3.49 and a debt-to-equity ratio of 2.23. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -68.17, a price-to-earnings-growth ratio of 4.03 and a beta of 1.99. Upbound Group has a 52-week low of $25.00 and a 52-week high of $36.17. The company has a fifty day moving average of $32.80 and a 200 day moving average of $31.94.

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

Upbound Group Announces Dividend

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

Insider Transactions at Upbound Group

In other news, Director Jeffrey J. Brown acquired 991 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was purchased at an average cost of $30.68 per share, for a total transaction of $30,403.88. Following the completion of the acquisition, the director now directly owns 83,138 shares of the company’s stock, valued at approximately $2,550,673.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Upbound Group news, EVP Anthony J. Blasquez sold 12,485 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $33.18, for a total transaction of $414,252.30. Following the sale, the executive vice president now 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 can be accessed through this hyperlink. Also, Director Jeffrey J. Brown purchased 991 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was bought at an average price of $30.68 per share, for a total transaction of $30,403.88. Following the completion of the acquisition, the director now directly owns 83,138 shares in the company, valued at approximately $2,550,673.84. The disclosure for this purchase can be found here. Corporate insiders own 2.70% 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.