Upbound Group (NASDAQ:UPBD) Updates FY24 Earnings Guidance

Upbound Group (NASDAQ:UPBD) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.55-4.00 for the period, compared to the consensus earnings per share estimate of $3.81. The company issued revenue guidance of $4.00-4.20 billion, compared to the consensus revenue estimate of $4.13 billion.

Upbound Group Stock Performance

Shares of NASDAQ UPBD opened at $31.62 on Thursday. Upbound Group has a 12-month low of $25.00 and a 12-month high of $36.17. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.12 and a quick ratio of 0.65. The stock’s 50 day simple moving average is $32.97 and its 200 day simple moving average is $31.88.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $994.27 million. Upbound Group had a positive return on equity of 32.65% and a negative net margin of 0.13%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. Research analysts expect that Upbound Group will post 3.76 earnings per share for the current year.

Upbound Group Dividend Announcement

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 4.68%. The ex-dividend date was Tuesday, April 2nd. Upbound Group’s dividend payout ratio (DPR) is -1,233.23%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Upbound Group news, Director Jeffrey J. Brown purchased 991 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were purchased at an average price of $30.68 per share, for a total transaction of $30,403.88. Following the completion of the transaction, the director now owns 83,138 shares in the company, valued at approximately $2,550,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jeffrey J. Brown bought 991 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was bought at an average price of $30.68 per share, with a total value of $30,403.88. Following the purchase, 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 document filed with the SEC, which is available at this hyperlink. 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 transaction of $414,252.30. Following the sale, the executive vice president now directly owns 58,967 shares of the company’s stock, valued at approximately $1,956,525.06. The disclosure for this sale can be found here. Insiders own 2.50% 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.