Upbound Group, Inc. (NASDAQ:UPBD) to Issue Quarterly Dividend of $0.39

Upbound Group, Inc. (NASDAQ:UPBD) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Stockholders of record on Wednesday, April 2nd will be paid a dividend of 0.39 per share on Tuesday, April 22nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date of this dividend is Wednesday, April 2nd.

Upbound Group has raised its dividend payment by an average of 5.7% per year over the last three years. Upbound Group has a dividend payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Upbound Group to earn $4.98 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 31.3%.

Upbound Group Stock Down 2.8 %

Shares of Upbound Group stock opened at $23.74 on Monday. Upbound Group has a 12-month low of $23.35 and a 12-month high of $38.72. The firm has a market capitalization of $1.36 billion, a PE ratio of 10.74 and a beta of 2.01. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.08. The stock’s fifty day moving average is $27.24 and its 200-day moving average is $29.55.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. Equities analysts anticipate that Upbound Group will post 4.28 earnings per share for the current year.

Insider Activity

In related news, CFO Fahmi Karam acquired 11,500 shares of the company’s stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $25.82 per share, for a total transaction of $296,930.00. Following the purchase, the chief financial officer now owns 164,672 shares in the company, valued at $4,251,831.04. This represents a 7.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey J. Brown bought 1,146 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was bought at an average price of $29.01 per share, with a total value of $33,245.46. Following the transaction, the director now owns 86,380 shares in the company, valued at approximately $2,505,883.80. This represents a 1.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Loop Capital lowered their price objective on shares of Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

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.