Upbound Group (NASDAQ:UPBD) Releases FY 2024 Earnings Guidance

Upbound Group (NASDAQ:UPBD) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.750-3.900 for the period, compared to the consensus estimate of 3.740. The company issued revenue guidance of $4.2 billion-$4.3 billion, compared to the consensus revenue estimate of $4.3 billion. Upbound Group also updated its FY24 guidance to $3.75-3.90 EPS.

Upbound Group Trading Up 0.8 %

Shares of UPBD traded up $0.22 during trading hours on Friday, reaching $29.46. 554,378 shares of the company traded hands, compared to its average volume of 431,880. The stock’s fifty day moving average price is $30.25 and its 200 day moving average price is $31.43. The company has a current ratio of 3.96, a quick ratio of 0.84 and a debt-to-equity ratio of 2.02. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 20.32 and a beta of 2.01. Upbound Group has a 12-month low of $26.42 and a 12-month high of $38.72.

Upbound Group (NASDAQ:UPBD) last issued its earnings results on Thursday, October 31st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 EPS. Sell-side analysts forecast that Upbound Group will post 3.67 earnings per share for the current year.

Upbound Group Announces Dividend

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

Wall Street Analyst Weigh In

UPBD has been the topic of a number of recent research reports. Loop Capital dropped their price target on Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday. 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 report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.40.

Insider Transactions at Upbound Group

In related news, Director Jeffrey J. Brown acquired 1,065 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were bought at an average price of $29.25 per share, with a total value of $31,151.25. Following the completion of the transaction, the director now directly owns 85,234 shares in the company, valued at $2,493,094.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Ralph T. Montrone sold 15,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.48, for a total transaction of $487,200.00. Following the transaction, the executive vice president now directly owns 40,074 shares of the company’s stock, valued at approximately $1,301,603.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey J. Brown acquired 1,065 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was acquired at an average cost of $29.25 per share, with a total value of $31,151.25. Following the transaction, the director now directly owns 85,234 shares in the company, valued at approximately $2,493,094.50. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase 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.