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 (EPS) guidance of $3.75-3.90 for the period, compared to the consensus estimate of $3.75. The company issued revenue guidance of $4.20-4.30 billion, compared to the consensus revenue estimate of $4.28 billion. Upbound Group also updated its FY 2024 guidance to 3.750-3.900 EPS.

Upbound Group Stock Up 0.8 %

NASDAQ UPBD traded up $0.22 on Friday, reaching $29.46. The company had a trading volume of 554,378 shares, compared to its average volume of 431,880. The firm has a market capitalization of $1.61 billion, a PE ratio of 20.32 and a beta of 2.01. The firm has a 50-day moving average of $30.25 and a 200-day moving average of $31.43. Upbound Group has a 1 year low of $26.42 and a 1 year high of $38.72. The company has a debt-to-equity ratio of 2.02, a current ratio of 3.96 and a quick ratio of 0.84.

Upbound Group (NASDAQ:UPBD) last announced its earnings results on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts anticipate that Upbound Group will post 3.67 EPS for the current fiscal year.

Upbound Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Jefferies Financial Group reduced their price target on Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a report on Tuesday, October 1st. Loop Capital reduced their target price on Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a research note on Friday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Upbound Group has a consensus rating of “Moderate Buy” and an average price target of $39.40.

Insider Buying and Selling

In other news, Director Jeffrey J. Brown purchased 1,065 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was acquired at an average cost of $29.25 per share, for a total transaction 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. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $514,318.00. Following the sale, the executive vice president now owns 14,651 shares in the company, valued at $498,134. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey J. Brown bought 1,065 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was bought at an average price of $29.25 per share, with a total value of $31,151.25. Following the completion of the purchase, the director now owns 85,234 shares of the company’s stock, valued at $2,493,094.50. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.70% 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.