Upbound Group (NASDAQ:UPBD) Issues 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 3.650-4.000 for the period, compared to the consensus EPS estimate of 3.770. The company issued revenue guidance of $4.1 billion-$4.3 billion, compared to the consensus revenue estimate of $4.2 billion.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Jefferies Financial Group cut their target price on shares of Upbound Group from $34.00 to $32.00 and set a hold rating for the company in a research note on Wednesday, July 10th. BTIG Research initiated coverage on shares of Upbound Group in a research report on Friday, June 7th. They set a buy rating and a $45.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $40.17.

Upbound Group Price Performance

NASDAQ UPBD traded down $2.35 during trading hours on Thursday, reaching $35.38. The company’s stock had a trading volume of 473,661 shares, compared to its average volume of 402,904. The business has a 50-day simple moving average of $32.13 and a 200 day simple moving average of $32.64. Upbound Group has a 52 week low of $25.00 and a 52 week high of $38.72. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.72 and a current ratio of 3.49.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities research analysts expect that Upbound Group will post 3.74 earnings per share for the current year.

Upbound Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Tuesday, June 18th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.18%. The ex-dividend date was Tuesday, June 18th. Upbound Group’s payout ratio is currently -321.74%.

Insider Activity

In other news, Director Jeffrey J. Brown acquired 1,031 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were bought at an average price of $29.82 per share, with a total value of $30,744.42. Following the purchase, the director now owns 84,169 shares of the company’s stock, valued at $2,509,919.58. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.

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.