Upbound Group (NASDAQ:UPBD) Announces Earnings Results, Beats Estimates By $0.06 EPS

Upbound Group (NASDAQ:UPBD - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06, Briefing.com reports. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The firm's revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.79 EPS. Upbound Group updated its FY24 guidance to $3.75-3.90 EPS and its FY 2024 guidance to 3.750-3.900 EPS.

Upbound Group Price Performance

NASDAQ:UPBD traded up $0.20 during trading hours on Friday, reaching $29.44. 331,438 shares of the company traded hands, compared to its average volume of 451,324. The firm's 50-day moving average is $30.33 and its 200-day moving average is $31.44. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.96 and a quick ratio of 0.84. The stock has a market cap of $1.61 billion, a P/E ratio of 30.04 and a beta of 2.00. Upbound Group has a 1-year low of $26.42 and a 1-year high of $38.72.

Upbound Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend was Tuesday, October 1st. Upbound Group's payout ratio is 151.02%.

Insider Buying and Selling

In related news, EVP Transient C. Taylor sold 15,127 shares of Upbound Group stock in a transaction on 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 of the company's stock, valued at $498,134. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Upbound Group news, Director Jeffrey J. Brown acquired 1,065 shares of the firm's stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average cost of $29.25 per share, for a total transaction of $31,151.25. Following the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $34.00, for a total value of $514,318.00. Following the sale, the executive vice president now owns 14,651 shares of the company's stock, valued at approximately $498,134. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on UPBD shares. Jefferies Financial Group reduced their price objective on shares of Upbound Group from $37.00 to $35.00 and set a "hold" rating for the company in a research note 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $39.40.

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.

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