Upbound Group (NASDAQ:UPBD) Posts Earnings Results, Beats Expectations By $0.02 EPS

Upbound Group (NASDAQ:UPBD) announced its quarterly earnings data on Thursday. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02, Briefing.com reports. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.03 billion. Upbound Group had a return on equity of 32.94% and a net margin of 1.31%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 earnings per share. Upbound Group updated its FY 2024 guidance to 3.650-4.000 EPS.

Upbound Group Trading Down 2.8 %

Shares of NASDAQ UPBD traded down $0.98 on Friday, hitting $34.19. The company had a trading volume of 564,490 shares, compared to its average volume of 590,417. Upbound Group has a 12-month low of $25.00 and a 12-month high of $38.72. The business has a 50 day moving average of $32.29 and a two-hundred day moving average of $32.67. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.49 and a quick ratio of 0.72.

Upbound Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Tuesday, June 18th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Tuesday, June 18th. Upbound Group’s payout ratio is -321.74%.

Wall Street Analysts Forecast Growth

UPBD has been the subject of a number of research reports. Jefferies Financial Group lowered their price target on Upbound Group from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, July 10th. BTIG Research initiated coverage on Upbound Group in a research report on Friday, June 7th. They set a “buy” rating and a $45.00 price target for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.17.

Insider Transactions at Upbound Group

In related news, Director Jeffrey J. Brown bought 1,031 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was bought at an average price of $29.82 per share, with a total value of $30,744.42. Following the completion of the transaction, the director now directly owns 84,169 shares of the company’s stock, valued at $2,509,919.58. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.70% of the company’s stock.

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.