Upbound Group (NASDAQ:UPBD) Issues FY24 Earnings Guidance

Upbound Group (NASDAQ:UPBD) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $3.75-3.90 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

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

Upbound Group Trading Up 0.8 %

Shares of Upbound Group stock opened at $29.46 on Friday. Upbound Group has a 52-week low of $26.42 and a 52-week high of $38.72. The firm has a market capitalization of $1.61 billion, a PE ratio of 20.32 and a beta of 2.01. The company has a debt-to-equity ratio of 2.02, a current ratio of 3.96 and a quick ratio of 0.84. The company’s fifty day moving average price is $30.25 and its two-hundred day moving average price is $31.43.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings data 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. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company posted $0.79 EPS. The business’s revenue was up 9.2% on a year-over-year basis. On average, analysts expect that Upbound Group will post 3.67 EPS for the current year.

Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date was Tuesday, October 1st. Upbound Group’s dividend payout ratio is 102.07%.

Insider Activity

In other news, Director Jeffrey J. Brown bought 1,065 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was acquired at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the transaction, the director now directly owns 85,234 shares of the company’s stock, valued at $2,493,094.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Jeffrey J. Brown bought 1,065 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was acquired at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the transaction, the director now directly owns 85,234 shares of the company’s stock, valued at $2,493,094.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction dated Monday, August 26th. The stock was 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.