Upbound Group (NASDAQ:UPBD) Issues FY24 Earnings Guidance

Upbound Group (NASDAQ:UPBD) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.55-4.00 for the period, compared to the consensus earnings per share estimate of $3.81. The company issued revenue guidance of $4.00-4.20 billion, compared to the consensus revenue estimate of $4.13 billion.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. KeyCorp boosted their price objective on shares of Upbound Group from $39.00 to $41.00 and gave the company an overweight rating in a research report on Friday, February 23rd. TD Cowen assumed coverage on shares of Upbound Group in a research report on Friday, March 8th. They set an outperform rating and a $43.00 price objective on the stock. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of Buy and an average price target of $38.17.

Upbound Group Stock Up 2.0 %

Shares of UPBD opened at $31.62 on Thursday. Upbound Group has a 12-month low of $25.00 and a 12-month high of $36.17. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.12 and a quick ratio of 0.65. The firm has a fifty day moving average price of $32.97 and a 200-day moving average price of $31.88.

Upbound Group (NASDAQ:UPBD) last issued its earnings results on Thursday, February 22nd. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. Upbound Group had a negative net margin of 0.13% and a positive return on equity of 32.65%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $994.27 million. During the same period in the previous year, the firm earned $0.86 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts expect that Upbound Group will post 3.76 EPS for the current year.

Upbound Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Wednesday, April 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $1.48 dividend on an annualized basis and a yield of 4.68%. Upbound Group’s dividend payout ratio is presently -1,233.23%.

Insider Activity

In related news, EVP Anthony J. Blasquez sold 12,485 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $33.18, for a total value of $414,252.30. Following the transaction, the executive vice president now owns 58,967 shares in the company, valued at approximately $1,956,525.06. The sale was disclosed in a filing with the SEC, which is available through this link. In other Upbound Group news, Director Jeffrey J. Brown bought 991 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were purchased at an average price of $30.68 per share, for a total transaction of $30,403.88. Following the transaction, the director now directly owns 83,138 shares of the company’s stock, valued at approximately $2,550,673.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Anthony J. Blasquez sold 12,485 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $33.18, for a total value of $414,252.30. Following the transaction, the executive vice president now owns 58,967 shares in the company, valued at approximately $1,956,525.06. The disclosure for this sale can be found here. Corporate insiders own 2.50% 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.