Upbound Group (NASDAQ:UPBD) Updates FY24 Earnings Guidance

Upbound Group (NASDAQ:UPBD) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.75-3.90 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

Several brokerages recently commented on UPBD. Loop Capital dropped their price target 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. Jefferies Financial Group cut their target price on Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $39.40.

Upbound Group Trading Up 0.8 %

UPBD traded up $0.22 during trading on Friday, hitting $29.46. 554,378 shares of the company’s stock were exchanged, compared to its average volume of 431,880. Upbound Group has a 1 year low of $26.42 and a 1 year high of $38.72. The stock has a 50 day moving average price of $30.25 and a 200 day moving average price of $31.43. The firm has a market cap of $1.61 billion, a P/E ratio of 20.32 and a beta of 2.01. The company has a current ratio of 3.96, a quick ratio of 0.84 and a debt-to-equity ratio of 2.02.

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

Upbound Group Dividend Announcement

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

Insider Buying and Selling

In other news, Director Jeffrey J. Brown purchased 1,065 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was acquired at an average cost of $29.25 per share, with a total value of $31,151.25. Following the acquisition, the director now owns 85,234 shares in the company, valued at approximately $2,493,094.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Upbound Group news, Director Jeffrey J. Brown purchased 1,065 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the completion of the purchase, the director now owns 85,234 shares in the company, valued at $2,493,094.50. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ralph T. Montrone sold 15,000 shares of the 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 directly owns 40,074 shares of the company’s stock, valued at $1,301,603.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate 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.