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

Upbound Group, Inc. (NASDAQ:UPBD) announced a quarterly dividend on Friday, September 20th, Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend 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. Equities 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 %

NASDAQ UPBD traded down $0.54 during trading hours on Friday, hitting $30.55. The company had a trading volume of 478,414 shares, compared to its average volume of 435,299. Upbound Group has a fifty-two week low of $25.00 and a fifty-two week high of $38.72. 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 business has a fifty day simple moving average of $32.63 and a 200-day simple moving average of $32.31.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on UPBD. Jefferies Financial Group lowered their price target on Upbound Group from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, July 10th. Loop Capital reissued a “hold” rating and set a $36.00 target price on shares of Upbound Group in a research note on Friday, September 13th. Finally, BTIG Research began coverage on shares of Upbound Group in a research note on Friday, June 7th. They issued a “buy” rating and a $45.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.40.

Insider Buying and Selling

In other news, EVP Transient C. Taylor sold 15,127 shares of Upbound Group 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 transaction, the executive vice president now owns 14,651 shares of the company’s stock, valued at approximately $498,134. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Upbound Group news, EVP Ralph T. Montrone sold 15,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.48, for a total transaction of $487,200.00. Following the completion of the sale, the executive vice president now directly owns 40,074 shares of the company’s stock, valued at $1,301,603.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Transient C. Taylor sold 15,127 shares of Upbound Group stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $34.00, for a total transaction of $514,318.00. Following the completion of the transaction, the executive vice president now directly 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 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.