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

Upbound Group, Inc. (NASDAQ:UPBD) 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 6.29%.

Upbound Group has increased its dividend payment 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. 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 Stock Performance

UPBD opened at $24.81 on Friday. Upbound Group has a twelve month low of $23.35 and a twelve month high of $38.72. The firm has a market capitalization of $1.42 billion, a PE ratio of 11.23 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. The firm’s 50-day moving average price is $27.70 and its 200 day moving average price is $29.78.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings results on Thursday, February 20th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 35.47% and a net margin of 2.86%. As a group, sell-side analysts expect that Upbound Group will post 4.28 EPS for the current fiscal year.

Insider Activity at Upbound Group

In other news, CFO Fahmi Karam purchased 11,500 shares of the firm’s stock in a transaction 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 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey J. Brown acquired 1,146 shares of the company’s stock in a transaction dated 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 completion of the purchase, the director now directly 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. 2.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

UPBD has been the subject of a number of analyst reports. TD Cowen raised shares of Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Loop Capital dropped their price target on shares of Upbound Group from $33.00 to $30.00 and set a “hold” rating for the company in a research note 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

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.