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

Upbound Group, Inc. (NASDAQ:UPBD) declared a quarterly dividend on Friday, March 21st, RTT News reports. Stockholders of record on Wednesday, April 2nd will be given a dividend of 0.39 per share on Tuesday, April 22nd. This represents a $1.56 annualized dividend and a dividend yield of 6.33%.

Upbound Group has raised its dividend by an average of 5.7% annually over the last three years. Upbound Group has a dividend payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. 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 Down 1.1 %

NASDAQ UPBD opened at $24.63 on Friday. Upbound Group has a one year low of $23.35 and a one year high of $38.72. The company has a 50-day simple moving average of $27.79 and a 200-day simple moving average of $29.86. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.86 and a current ratio of 3.66. The firm has a market capitalization of $1.41 billion, a PE ratio of 11.14 and a beta of 2.01.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings results on Thursday, February 20th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. On average, equities analysts forecast that Upbound Group will post 4.28 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on UPBD shares. Loop Capital cut 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. TD Cowen upgraded shares of Upbound Group to a “strong-buy” rating in a research report on Friday, November 29th. Two equities 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Insider Buying and Selling

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

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.