Upbound Group (NASDAQ:UPBD) Releases FY24 Earnings Guidance

Upbound Group (NASDAQ:UPBD) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.75-3.90 for the period, compared to the consensus earnings per share estimate of $3.75. The company issued revenue guidance of $4.20-4.30 billion, compared to the consensus revenue estimate of $4.28 billion. Upbound Group also updated its FY 2024 guidance to 3.750-3.900 EPS.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Jefferies Financial Group dropped their price target on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Tuesday, October 1st. Loop Capital cut their price target on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a report on Friday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.40.

Upbound Group Trading Up 0.8 %

NASDAQ:UPBD traded up $0.22 during midday trading on Friday, reaching $29.46. 554,378 shares of the stock traded hands, compared to its average volume of 431,880. The stock has a market capitalization of $1.61 billion, a P/E ratio of 20.32 and a beta of 2.01. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.84 and a current ratio of 3.96. The company has a fifty day moving average of $30.25 and a 200 day moving average of $31.43. Upbound Group has a 12 month low of $26.42 and a 12 month high of $38.72.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The company had revenue of $1.07 billion for 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 revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. On average, research analysts predict that Upbound Group will post 3.67 EPS for the current year.

Upbound Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were issued a $0.37 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 annualized dividend and a yield of 5.02%. Upbound Group’s dividend payout ratio (DPR) is presently 102.07%.

Insiders Place Their Bets

In related news, EVP Transient C. Taylor sold 15,127 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $34.00, for a total value of $514,318.00. Following the sale, the executive vice president now directly owns 14,651 shares of the company’s stock, valued at $498,134. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Transient C. Taylor sold 15,127 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $514,318.00. Following the sale, the executive vice president now owns 14,651 shares of the company’s stock, valued at $498,134. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ralph T. Montrone sold 15,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.48, for a total transaction of $487,200.00. Following the completion of the sale, the executive vice president now owns 40,074 shares in the company, valued at approximately $1,301,603.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.