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.

Upbound Group Stock Up 1.3 %

UPBD traded up $0.39 during trading on Friday, reaching $30.77. The stock had a trading volume of 402,164 shares, compared to its average volume of 426,682. The company has a debt-to-equity ratio of 2.23, a current ratio of 3.12 and a quick ratio of 0.65. The stock’s 50 day moving average is $32.84 and its two-hundred day moving average is $31.90. Upbound Group has a one year low of $25.00 and a one year high of $36.17.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the business earned $0.83 EPS. Upbound Group’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts expect that Upbound Group will post 3.76 EPS for the current fiscal year.

Upbound Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on UPBD shares. KeyCorp raised their price objective on 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 initiated coverage on Upbound Group in a report on Friday, March 8th. They set an outperform rating and a $43.00 price target for the company. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Upbound Group presently has an average rating of Buy and an average target price of $38.17.

Insider Activity at Upbound Group

In other news, EVP Anthony J. Blasquez sold 12,485 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $33.18, for a total value of $414,252.30. Following the completion of the transaction, the executive vice president now owns 58,967 shares in the company, valued at $1,956,525.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Anthony J. Blasquez sold 12,485 shares of Upbound Group stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $33.18, for a total value of $414,252.30. Following the completion of the sale, the executive vice president now directly owns 58,967 shares in the company, valued at $1,956,525.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey J. Brown acquired 991 shares of the firm’s 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 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. 2.50% of the stock is owned by 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.