Upbound Group (NASDAQ:UPBD) Issues FY24 Earnings Guidance

Upbound Group (NASDAQ:UPBD) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.55-4.00 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

UPBD has been the subject of several recent analyst reports. TD Cowen assumed 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. KeyCorp upped their price objective on Upbound Group from $39.00 to $41.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $38.17.

Upbound Group Price Performance

Shares of UPBD traded up $0.39 during trading hours on Friday, hitting $30.77. 402,164 shares of the stock were exchanged, compared to its average volume of 426,682. The company has a current ratio of 3.12, a quick ratio of 0.65 and a debt-to-equity ratio of 2.23. Upbound Group has a fifty-two week low of $25.00 and a fifty-two week high of $36.17. The business has a 50-day moving average of $32.84 and a 200-day moving average of $31.90.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $0.83 EPS. Equities analysts anticipate that Upbound Group will post 3.76 earnings per share for the current fiscal year.

Upbound Group Dividend Announcement

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

Insider Activity

In related news, 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 value of $414,252.30. Following the transaction, 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 available through this hyperlink. In other news, EVP Anthony J. Blasquez sold 12,485 shares of the 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 completion of the sale, the executive vice president now owns 58,967 shares in the company, valued at $1,956,525.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey J. Brown acquired 991 shares of Upbound Group stock in a transaction on Monday, April 22nd. The stock was purchased at an average cost of $30.68 per share, with a total value of $30,403.88. Following the completion of the transaction, the director now directly owns 83,138 shares in the company, valued at approximately $2,550,673.84. The disclosure for this purchase can be found here. Corporate insiders own 2.50% 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.