Upbound Group, Inc. (NASDAQ:UPBD) Plans $0.37 Quarterly Dividend

Upbound Group, Inc. (NASDAQ:UPBD) declared a quarterly dividend on Wednesday, September 18th, Wall Street Journal reports. Investors of record on Tuesday, October 1st will be given a dividend of 0.37 per share on Tuesday, October 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Tuesday, October 1st.

Upbound Group has decreased its dividend payment by an average of 1.9% per year over the last three years. Upbound Group has a dividend payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Upbound Group to earn $4.50 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 32.9%.

Upbound Group Trading Up 2.4 %

NASDAQ UPBD opened at $32.43 on Monday. Upbound Group has a 12 month low of $25.00 and a 12 month high of $38.72. The company has a current ratio of 3.96, a quick ratio of 0.84 and a debt-to-equity ratio of 2.21. The stock’s fifty day moving average price is $32.46 and its 200-day moving average price is $32.22. The stock has a market cap of $1.77 billion, a P/E ratio of -70.50 and a beta of 2.00.

Upbound Group (NASDAQ:UPBD) last issued its earnings results on Thursday, August 1st. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.01. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.03 billion. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.11 earnings per share. As a group, equities analysts forecast that Upbound Group will post 3.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey J. Brown bought 1,031 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were bought at an average cost of $29.82 per share, for a total transaction of $30,744.42. Following the completion of the transaction, the director now owns 84,169 shares of the company’s stock, valued at $2,509,919.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Ralph T. Montrone sold 15,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.48, for a total value of $487,200.00. Following the completion of the transaction, the executive vice president now owns 40,074 shares of the company’s stock, valued at approximately $1,301,603.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey J. Brown bought 1,031 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was bought at an average price of $29.82 per share, with a total value of $30,744.42. Following the acquisition, the director now owns 84,169 shares in the company, valued at approximately $2,509,919.58. The disclosure for this purchase can be found here. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

UPBD has been the topic of several research reports. BTIG Research assumed coverage on shares of Upbound Group in a report on Friday, June 7th. They issued a “buy” rating and a $45.00 target price on the stock. Jefferies Financial Group lowered their price target on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, July 10th. Finally, Loop Capital reiterated a “hold” rating and issued a $36.00 price target on shares of Upbound Group in a research note on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Upbound Group currently has an average rating of “Moderate Buy” and an average target price of $39.40.

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.