Upbound Group (NASDAQ:UPBD) Posts Earnings Results, Beats Expectations By $0.06 EPS

Upbound Group (NASDAQ:UPBD) posted its earnings results on Thursday. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06, Briefing.com reports. Upbound Group had a return on equity of 32.94% and a net margin of 1.31%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the firm earned $0.79 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. 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 Trading Up 0.8 %

NASDAQ:UPBD traded up $0.22 during trading hours on Friday, hitting $29.46. 554,378 shares of the company were exchanged, compared to its average volume of 452,376. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 30.04 and a beta of 2.00. The company has a fifty day simple moving average of $30.33 and a 200 day simple moving average of $31.44. The company has a current ratio of 3.96, a quick ratio of 0.84 and a debt-to-equity ratio of 2.21. Upbound Group has a one year low of $26.42 and a one year high of $38.72.

Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a $0.37 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 annualized dividend and a dividend yield of 5.02%. Upbound Group’s dividend payout ratio is 151.02%.

Insider Transactions at Upbound Group

In other news, Director Jeffrey J. Brown acquired 1,065 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was bought at an average cost of $29.25 per share, for a total transaction of $31,151.25. Following the completion of the transaction, the director now directly owns 85,234 shares in the company, valued at $2,493,094.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of Upbound Group stock in a transaction dated Monday, August 26th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey J. Brown bought 1,065 shares of the stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the completion of the purchase, the director now owns 85,234 shares of the company’s stock, valued at approximately $2,493,094.50. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

UPBD has been the topic of several research analyst reports. Jefferies Financial Group dropped their price objective on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Tuesday, October 1st. Loop Capital decreased their target price on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus 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.