Upbound Group, Inc. (NASDAQ:UPBD) Declares $0.39 Quarterly Dividend

Upbound Group, Inc. (NASDAQ:UPBD - Get Free Report) announced a quarterly dividend on Friday, March 21st, 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 dividend on an annualized basis and a dividend yield of 6.14%.

Upbound Group has increased its dividend payment by an average of 5.7% per year over the last three years. Upbound Group has a dividend payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 2.5 %

Shares of UPBD traded up $0.61 during midday trading on Monday, hitting $25.42. The stock had a trading volume of 118,132 shares, compared to its average volume of 463,273. The business has a 50-day simple moving average of $27.70 and a two-hundred day simple moving average of $29.76. The firm has a market cap of $1.46 billion, a P/E ratio of 11.50 and a beta of 2.01. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.08. Upbound Group has a fifty-two week low of $23.35 and a fifty-two week high of $38.72.

Upbound Group (NASDAQ:UPBD - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.06 billion. As a group, equities analysts forecast that Upbound Group will post 4.28 EPS for the current year.

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Analysts Set New Price Targets

Several equities analysts have weighed in on the company. TD Cowen raised Upbound Group to a "strong-buy" rating in a research note on Friday, November 29th. Loop Capital lowered their price objective on shares of Upbound Group from $33.00 to $30.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. Two investment 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

Insiders Place Their Bets

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