Upbound Group (NASDAQ:UPBD) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Upbound Group (NASDAQ:UPBD) issued its earnings results on Thursday. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02, Briefing.com reports. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. Upbound Group had a positive return on equity of 33.40% and a negative net margin of 0.61%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 EPS. Upbound Group updated its FY24 guidance to $3.55-4.00 EPS.

Upbound Group Stock Performance

Shares of NASDAQ UPBD opened at $30.77 on Friday. The stock’s 50 day simple moving average is $32.84 and its 200 day simple moving average is $31.90. The company has a debt-to-equity ratio of 2.23, a current ratio of 3.12 and a quick ratio of 0.65. Upbound Group has a 12-month low of $25.00 and a 12-month high of $36.17.

Upbound Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Wednesday, April 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend was Tuesday, April 2nd. Upbound Group’s dividend payout ratio (DPR) is -321.74%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. KeyCorp lifted their target price on Upbound Group from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. TD Cowen assumed coverage on Upbound Group in a research report on Friday, March 8th. They issued an “outperform” rating and a $43.00 target price for the company. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $38.17.

Insider Buying and Selling at Upbound Group

In other news, EVP Anthony J. Blasquez sold 12,485 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $33.18, for a total value of $414,252.30. Following the sale, the executive vice president now owns 58,967 shares of the company’s stock, valued at approximately $1,956,525.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jeffrey J. Brown bought 991 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were acquired at an average cost of $30.68 per share, for a total transaction of $30,403.88. Following the acquisition, 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 filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony J. Blasquez sold 12,485 shares of Upbound Group stock in a transaction 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. 2.50% of the stock is owned by company insiders.

Upbound Group Company Profile

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.