Upbound Group (NASDAQ:UPBD) Issues FY 2024 Earnings Guidance

by · The Markets Daily

Upbound Group (NASDAQ:UPBD – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.750-3.900 for the period, compared to the consensus estimate of 3.740. The company issued revenue guidance of $4.2 billion-$4.3 billion, compared to the consensus revenue estimate of $4.3 billion. Upbound Group also updated its FY24 guidance to $3.75-3.90 EPS.

Upbound Group Trading Up 0.8 %

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

Upbound Group (NASDAQ:UPBD – Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, topping 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 firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned $0.79 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, equities research analysts forecast that Upbound Group will post 3.67 earnings per share for the current year.

Upbound Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a $0.37 dividend. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

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

View Our Latest Research Report on Upbound Group

Insider Buying and Selling

In related news, Director Jeffrey J. Brown acquired 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, for a total transaction of $31,151.25. Following the completion of the purchase, the director now directly owns 85,234 shares of the company’s stock, valued at approximately $2,493,094.50. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Ralph T. Montrone sold 15,000 shares of Upbound Group stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.48, for a total value of $487,200.00. Following the transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey J. Brown purchased 1,065 shares of Upbound Group stock in a transaction that occurred on Tuesday, October 22nd. The stock was acquired at an average price of $29.25 per share, with a total value of $31,151.25. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is owned by company insiders.

Upbound Group Company Profile

(Get Free Report)

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.

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