Upbound Group (NASDAQ:UPBD) Updates FY24 Earnings Guidance

Upbound Group (NASDAQ:UPBD) updated its FY24 earnings guidance on Thursday. 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.

Analyst Upgrades and Downgrades

Several brokerages have commented on UPBD. TD Cowen started coverage on shares of Upbound Group in a research report on Friday, March 8th. They set an outperform rating and a $43.00 target price for the company. KeyCorp increased their target price on Upbound Group from $39.00 to $41.00 and gave the company an overweight rating in a research note on Friday, February 23rd. Four analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of Buy and an average price target of $38.17.

Upbound Group Trading Up 1.3 %

Shares of UPBD traded up $0.39 during midday trading on Friday, hitting $30.77. The stock had a trading volume of 402,164 shares, compared to its average volume of 426,682. The company has a 50 day simple moving average of $32.84 and a two-hundred day simple moving average of $31.90. Upbound Group has a twelve month low of $25.00 and a twelve month high of $36.17. 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 (NASDAQ:UPBD) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. Upbound Group had a positive return on equity of 33.40% and a negative net margin of 0.61%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.83 earnings per share. Analysts anticipate that Upbound Group will post 3.76 EPS for the current fiscal year.

Upbound Group Dividend Announcement

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

Insider Buying and Selling at Upbound Group

In related news, EVP Anthony J. Blasquez sold 12,485 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $33.18, for a total value of $414,252.30. Following the transaction, the executive vice president now 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 can be accessed through this link. In related news, Director Jeffrey J. Brown purchased 991 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was acquired at an average price of $30.68 per share, with a total value of $30,403.88. Following the completion of the purchase, the director now directly owns 83,138 shares in the company, valued at $2,550,673.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Anthony J. Blasquez sold 12,485 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 58,967 shares in the company, valued at $1,956,525.06. The disclosure for this sale can be found here. Corporate 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.