Upbound Group, Inc. to Issue Quarterly Dividend of $0.39 (NASDAQ:UPBD)

Upbound Group, Inc. (NASDAQ:UPBD - Get Free Report) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Stockholders of record on Wednesday, April 2nd will be paid a dividend of 0.39 per share on Tuesday, April 22nd. This represents a $1.56 annualized dividend and a dividend yield of 6.29%. The ex-dividend date of this dividend is Wednesday, April 2nd.

Upbound Group has raised its dividend by an average of 5.7% annually over the last three years. Upbound Group has a payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Upbound Group to earn $4.98 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 31.3%.

Upbound Group Price Performance

Shares of NASDAQ:UPBD traded down $0.56 during trading hours on Tuesday, hitting $24.80. 460,413 shares of the company's stock traded hands, compared to its average volume of 464,601. The company's fifty day simple moving average is $27.63 and its two-hundred day simple moving average is $29.71. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 11.22 and a beta of 2.01. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.86 and a current ratio of 3.66. Upbound Group has a 52 week low of $23.35 and a 52 week high of $38.72.

Upbound Group (NASDAQ:UPBD - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. As a group, equities analysts anticipate that Upbound Group will post 4.28 EPS for the current fiscal year.

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Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Loop Capital decreased their price target on Upbound Group from $33.00 to $30.00 and set a "hold" rating for the company in a research report on Friday, February 21st. TD Cowen raised shares of Upbound Group to a "strong-buy" rating in a research report on Friday, November 29th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Insider Transactions at Upbound Group

In other news, CFO Fahmi Karam purchased 11,500 shares of the business's stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $25.82 per share, with a total value of $296,930.00. Following the purchase, the chief financial officer now directly owns 164,672 shares of the company's stock, valued at approximately $4,251,831.04. This trade represents a 7.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey J. Brown purchased 1,146 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average cost of $29.01 per share, with a total value of $33,245.46. Following the purchase, the director now owns 86,380 shares in the company, valued at $2,505,883.80. This represents a 1.34 % increase in their position. The disclosure for this purchase can be found here. 2.70% of the stock is owned by insiders.

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.