Upbound Group (NASDAQ:UPBD) Announces Quarterly Earnings Results

Upbound Group (NASDAQ:UPBD) posted its earnings results on Thursday. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02, Briefing.com reports. 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 for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the business posted $0.83 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Upbound Group updated its FY24 guidance to $3.55-4.00 EPS.

Upbound Group Price Performance

Shares of UPBD stock opened at $30.77 on Friday. The firm has a 50 day moving average price of $32.84 and a two-hundred day moving average price of $31.90. 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 has a 12-month low of $25.00 and a 12-month high of $36.17.

Upbound Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Wednesday, April 3rd were paid a $0.37 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $1.48 annualized dividend and a yield of 4.81%. Upbound Group’s dividend payout ratio (DPR) is currently -321.74%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. 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 report on Friday, February 23rd. TD Cowen assumed coverage on shares of Upbound Group in a research report on Friday, March 8th. They issued an “outperform” rating and a $43.00 price objective for the company. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $38.17.

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.