Upbound Group (NASDAQ:UPBD) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Upbound Group (NASDAQ:UPBD) issued its earnings results on Thursday. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06, Briefing.com reports. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company earned $0.79 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. Upbound Group updated its FY24 guidance to $3.75-3.90 EPS and its FY 2024 guidance to 3.750-3.900 EPS.

Upbound Group Price Performance

Shares of Upbound Group stock traded up $0.20 on Friday, reaching $29.44. The stock had a trading volume of 331,438 shares, compared to its average volume of 451,324. The company has a market cap of $1.61 billion, a P/E ratio of 30.04 and a beta of 2.00. Upbound Group has a 1 year low of $26.42 and a 1 year high of $38.72. The business’s 50 day moving average is $30.33 and its two-hundred day moving average is $31.44. The company has a current ratio of 3.96, a quick ratio of 0.84 and a debt-to-equity ratio of 2.21.

Upbound Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend was Tuesday, October 1st. Upbound Group’s dividend payout ratio (DPR) is currently 151.02%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on UPBD shares. Jefferies Financial Group decreased their target price on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Tuesday, October 1st. Loop Capital decreased their target price 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Upbound Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.40.

Insider Buying and Selling

In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of Upbound Group 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 completion of the sale, the executive vice president now owns 14,651 shares of the company’s stock, valued at $498,134. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $514,318.00. Following the completion of the sale, the executive vice president now owns 14,651 shares of the company’s stock, valued at $498,134. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey J. Brown bought 1,065 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average price of $29.25 per share, with a total value of $31,151.25. Following the acquisition, the director now owns 85,234 shares of the company’s stock, valued at $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. 2.70% of the stock is owned by company insiders.

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.