Upbound Group (NASDAQ:UPBD) Issues Quarterly Earnings Results

Upbound Group (NASDAQ:UPBD) posted its quarterly earnings data on Thursday. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02, Briefing.com reports. Upbound Group had a negative net margin of 0.13% and a positive return on equity of 32.65%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company posted $0.83 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Upbound Group updated its FY24 guidance to $3.55-4.00 EPS.

Upbound Group Stock Up 1.3 %

NASDAQ UPBD traded up $0.39 during trading hours on Friday, hitting $30.77. The company had a trading volume of 402,162 shares, compared to its average volume of 390,815. The firm’s 50 day moving average is $32.84 and its 200 day moving average is $31.88. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.12 and a quick ratio of 0.65. Upbound Group has a fifty-two week low of $25.00 and a fifty-two week high of $36.17. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -256.40, a P/E/G ratio of 4.14 and a beta of 1.99.

Upbound Group Announces Dividend

The firm also recently announced 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. The ex-dividend date was Tuesday, April 2nd. This represents a $1.48 annualized dividend and a dividend yield of 4.81%. Upbound Group’s payout ratio is -1,233.23%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. 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 price target 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 report on Friday, February 23rd. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $38.17.

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.