Upbound Group (NASDAQ:UPBD) Announces Earnings Results, Beats Estimates By $0.02 EPS

Upbound Group (NASDAQ:UPBD) announced its earnings results on Thursday. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02, Briefing.com reports. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. Upbound Group had a negative net margin of 0.13% and a positive return on equity of 32.65%. Upbound Group’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. Upbound Group updated its FY24 guidance to $3.55-4.00 EPS.

Upbound Group Trading Up 1.3 %

UPBD stock traded up $0.39 during mid-day trading on Friday, reaching $30.77. 402,162 shares of the stock traded hands, compared to its average volume of 390,815. The company has a current ratio of 3.12, a quick ratio of 0.65 and a debt-to-equity ratio of 2.33. Upbound Group has a 52-week low of $25.00 and a 52-week high of $36.17. The company has a market cap of $1.68 billion, a P/E ratio of -256.40, a P/E/G ratio of 4.14 and a beta of 1.99. The stock’s fifty day moving average is $32.84 and its 200-day moving average is $31.88.

Upbound Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Wednesday, April 3rd were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date was Tuesday, April 2nd. Upbound Group’s dividend payout ratio is presently -1,233.23%.

Insider Buying and Selling at Upbound Group

In other Upbound Group news, EVP Anthony J. Blasquez sold 12,485 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $33.18, for a total transaction of $414,252.30. Following the completion of the sale, the executive vice president now directly owns 58,967 shares of the company’s stock, valued at $1,956,525.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Upbound Group news, Director Jeffrey J. Brown acquired 991 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were purchased at an average price of $30.68 per share, with a total value of $30,403.88. Following the completion of the transaction, the director now owns 83,138 shares in the company, valued at $2,550,673.84. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Anthony J. Blasquez sold 12,485 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $33.18, for a total transaction of $414,252.30. Following the transaction, the executive vice president now directly owns 58,967 shares in the company, valued at approximately $1,956,525.06. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. TD Cowen assumed coverage on shares of Upbound Group in a research report on Friday, March 8th. They issued an “outperform” rating and a $43.00 target price for the company. KeyCorp raised their price objective on shares of Upbound Group from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $38.17.

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.