Upbound Group (NASDAQ:UPBD) Announces Quarterly Earnings Results

Upbound Group (NASDAQ:UPBD) announced its earnings results on Thursday. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06, Briefing.com reports. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. Upbound Group’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 earnings per share. 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 Stock Performance

NASDAQ UPBD traded up $0.22 during trading hours on Friday, reaching $29.46. The stock had a trading volume of 554,378 shares, compared to its average volume of 431,880. The stock has a fifty day moving average of $30.25 and a 200 day moving average of $31.43. The stock has a market cap of $1.61 billion, a P/E ratio of 20.32 and a beta of 2.01. Upbound Group has a 52-week low of $26.42 and a 52-week high of $38.72. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.84 and a current ratio of 3.96.

Upbound Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.02%. Upbound Group’s payout ratio is 102.07%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Jefferies Financial Group reduced their price objective on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Tuesday, October 1st. Loop Capital lowered their price objective on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Upbound Group currently has an average rating of “Moderate Buy” and an average price target of $39.40.

Insider Activity at Upbound Group

In other news, EVP Ralph T. Montrone sold 15,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.48, for a total transaction of $487,200.00. Following the transaction, the executive vice president now owns 40,074 shares in the company, valued at $1,301,603.52. This trade 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. In related news, EVP Transient C. Taylor sold 15,127 shares of the firm’s 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 transaction, the executive vice president now directly owns 14,651 shares in the company, valued at $498,134. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ralph T. Montrone sold 15,000 shares of Upbound Group stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.48, for a total value of $487,200.00. Following the completion of the transaction, the executive vice president now owns 40,074 shares of the company’s stock, valued at $1,301,603.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by 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.