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

Upbound Group (NASDAQ:UPBD) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.750-3.900 for the period, compared to the consensus EPS estimate of 3.740. The company issued revenue guidance of $4.2 billion-$4.3 billion, compared to the consensus revenue estimate of $4.3 billion. Upbound Group also updated its FY24 guidance to $3.75-3.90 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on UPBD shares. Jefferies Financial Group lowered their price objective on Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Tuesday, October 1st. Loop Capital dropped their price objective on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.40.

Upbound Group Stock Up 0.8 %

Shares of UPBD stock traded up $0.22 during trading on Friday, reaching $29.46. The company’s stock had a trading volume of 554,378 shares, compared to its average volume of 431,880. Upbound Group has a 1-year low of $26.42 and a 1-year high of $38.72. The stock’s 50-day moving average price is $30.25 and its 200 day moving average price is $31.43. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 20.32 and a beta of 2.01. The company has a debt-to-equity ratio of 2.02, a current ratio of 3.96 and a quick ratio of 0.84.

Upbound Group (NASDAQ:UPBD) last released its earnings results on Thursday, October 31st. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm posted $0.79 EPS. Upbound Group’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, research analysts anticipate that Upbound Group will post 3.67 EPS for the current year.

Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.48 annualized dividend and a dividend yield of 5.02%. Upbound Group’s dividend payout ratio is currently 102.07%.

Insider Buying and Selling

In other news, Director Jeffrey J. Brown acquired 1,065 shares of Upbound Group stock in a transaction on Tuesday, October 22nd. The stock was bought at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the completion of the purchase, the director now owns 85,234 shares in the company, valued at $2,493,094.50. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Upbound Group news, Director Jeffrey J. Brown bought 1,065 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was acquired at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the completion of the purchase, the director now owns 85,234 shares of the company’s stock, valued at approximately $2,493,094.50. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Transient C. Taylor sold 15,127 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $34.00, for a total value of $514,318.00. Following the completion of the transaction, the executive vice president now owns 14,651 shares in the company, valued at $498,134. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

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.