Upbound Group (NASDAQ:UPBD) Updates FY 2024 Earnings Guidance

Upbound Group (NASDAQ:UPBD) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 3.550-4.000 for the period, compared to the consensus estimate of 3.770. The company issued revenue guidance of $4.0 billion-$4.2 billion, compared to the consensus revenue estimate of $4.1 billion.

Analyst Ratings Changes

UPBD has been the topic of a number of research reports. KeyCorp boosted their price objective on shares of Upbound Group from $39.00 to $41.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. TD Cowen began coverage on Upbound Group in a research note on Friday, March 8th. They set an outperform rating and a $43.00 target price for the company. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $38.17.

Upbound Group Price Performance

UPBD stock traded up $0.34 during trading on Friday, reaching $30.72. 111,620 shares of the company were exchanged, compared to its average volume of 387,246. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -253.15, a P/E/G ratio of 4.14 and a beta of 1.99. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.12 and a quick ratio of 0.65. The company has a 50-day moving average of $32.90 and a two-hundred day moving average of $31.87. Upbound Group has a twelve month low of $25.00 and a twelve month high of $36.17.

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. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Upbound Group had a negative net margin of 0.13% and a positive return on equity of 32.65%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 EPS. As a group, equities analysts predict that Upbound Group will post 3.76 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Wednesday, April 3rd were issued a $0.37 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $1.48 annualized dividend and a yield of 4.82%. Upbound Group’s payout ratio is -1,233.23%.

Insiders Place Their Bets

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

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.