Upbound Group (UPBD) Scheduled to Post Quarterly Earnings on Thursday

Upbound Group (NASDAQ:UPBD) is set to post its quarterly earnings results before the market opens on Thursday, August 1st. Analysts expect the company to announce earnings of $1.02 per share for the quarter. Upbound Group has set its FY24 guidance at $3.55-4.00 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. Upbound Group had a positive return on equity of 33.40% and a negative net margin of 0.61%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the company earned $0.83 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts expect Upbound Group to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Upbound Group Stock Performance

NASDAQ UPBD opened at $37.78 on Wednesday. The business has a 50 day moving average price of $32.01 and a 200 day moving average price of $32.60. The company has a market capitalization of $2.06 billion, a P/E ratio of -82.13 and a beta of 2.02. Upbound Group has a 1-year low of $25.00 and a 1-year high of $37.95. The company has a debt-to-equity ratio of 2.23, a current ratio of 3.49 and a quick ratio of 0.72.

Upbound Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Tuesday, June 18th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend was Tuesday, June 18th. Upbound Group’s dividend payout ratio is currently -321.74%.

Insider Buying and Selling at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,031 shares of the stock in a transaction dated Tuesday, July 9th. The stock was acquired at an average price of $29.82 per share, with a total value of $30,744.42. Following the completion of the transaction, the director now directly owns 84,169 shares in the company, valued at $2,509,919.58. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on UPBD shares. BTIG Research began coverage on shares of Upbound Group in a report on Friday, June 7th. They set a “buy” rating and a $45.00 target price for the company. Jefferies Financial Group cut their price objective on Upbound Group from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Upbound Group currently has an average rating of “Moderate Buy” and a consensus target price of $40.17.

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.