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 earnings per share guidance of 3.750-3.900 for the period, compared to the consensus earnings per share 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.

Upbound Group Price Performance

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

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. Upbound Group’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. On average, equities analysts predict 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. Investors of record on Tuesday, October 1st were paid a $0.37 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a yield of 5.02%. Upbound Group’s payout ratio is 102.07%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Loop Capital reduced their price target on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a report on Friday. Jefferies Financial Group reduced their target price 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. Two 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, the company has an average rating of “Moderate Buy” and an average target price of $39.40.

Insider Activity at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,065 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the completion of the acquisition, the director now directly owns 85,234 shares of the company’s stock, valued at $2,493,094.50. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Upbound Group news, EVP Ralph T. Montrone sold 15,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.48, for a total transaction of $487,200.00. Following the transaction, the executive vice president now owns 40,074 shares of the company’s stock, valued at $1,301,603.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey J. Brown purchased 1,065 shares of the firm’s 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 acquisition, the director now owns 85,234 shares in the company, valued at $2,493,094.50. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.