Upbound Group, Inc. (NASDAQ:UPBD) to Issue Quarterly Dividend of $0.37

Upbound Group, Inc. (NASDAQ:UPBD) announced a quarterly dividend on Friday, September 20th, Wall Street Journal reports. Shareholders of record on Tuesday, October 1st will be paid a dividend of 0.37 per share on Tuesday, October 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date is Tuesday, October 1st.

Upbound Group has decreased its dividend by an average of 1.9% per year over the last three years. Upbound Group has a dividend payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Upbound Group to earn $4.50 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 32.9%.

Upbound Group Stock Down 1.7 %

Shares of UPBD traded down $0.54 during trading hours on Friday, reaching $30.55. The company’s stock had a trading volume of 478,414 shares, compared to its average volume of 435,299. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.96 and a quick ratio of 0.84. The company has a 50 day moving average of $32.63 and a two-hundred day moving average of $32.31. Upbound Group has a 1-year low of $25.00 and a 1-year high of $38.72.

Upbound Group (NASDAQ:UPBD) last released its earnings results on Thursday, August 1st. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.01. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that Upbound Group will post 3.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on UPBD. Loop Capital reaffirmed a “hold” rating and issued a $36.00 target price on shares of Upbound Group in a research report on Friday, September 13th. BTIG Research assumed coverage on Upbound Group in a report on Friday, June 7th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Jefferies Financial Group reduced their target price on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.40.

Insider Transactions at Upbound Group

In related news, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $34.00, for a total value of $514,318.00. Following the transaction, the executive vice president now directly owns 14,651 shares of the company’s stock, valued at approximately $498,134. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jeffrey J. Brown purchased 1,031 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was purchased at an average price of $29.82 per share, with a total value of $30,744.42. Following the acquisition, the director now directly owns 84,169 shares in the company, valued at approximately $2,509,919.58. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Transient C. Taylor sold 15,127 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $498,134. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

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.