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

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 Stock Up 8.0 %

NASDAQ:UPBD traded up $2.16 during mid-day trading on Thursday, hitting $29.24. 802,171 shares of the company's stock were exchanged, compared to its average volume of 451,892. Upbound Group has a one year low of $25.17 and a one year high of $38.72. 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 business has a fifty day moving average price of $30.38 and a 200 day moving average price of $31.45. The company has a market cap of $1.60 billion, a PE ratio of 30.21 and a beta of 2.00.

Upbound Group (NASDAQ:UPBD - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.03 by $0.01. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $1.11 earnings per share. Upbound Group's quarterly revenue was up 10.0% on a year-over-year basis. Equities analysts predict that Upbound Group will post 3.67 EPS for the current year.

Upbound Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders 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 annualized dividend and a yield of 5.06%. Upbound Group's dividend payout ratio (DPR) is presently 151.02%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Loop Capital reaffirmed a "hold" rating and issued a $36.00 target price on shares of Upbound Group in a report on Friday, September 13th. Jefferies Financial Group decreased their target price on shares of Upbound Group from $37.00 to $35.00 and set a "hold" rating for the company in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.

Insider Buying and Selling at Upbound Group

In related news, EVP Transient C. Taylor sold 15,127 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $34.00, for a total value of $514,318.00. Following the transaction, the executive vice president now owns 14,651 shares of the company's stock, valued at approximately $498,134. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Ralph T. Montrone sold 15,000 shares of Upbound Group stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.48, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $34.00, for a total transaction of $514,318.00. Following the completion of the sale, the executive vice president now directly owns 14,651 shares of the company's stock, valued at $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 owned by corporate insiders.

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.