Upbound Group, Inc. (UPBD) To Go Ex-Dividend on April 2nd

Upbound Group, Inc. (NASDAQ:UPBD) declared a quarterly dividend on Thursday, March 20th, RTT News reports. Investors 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 6.57%. The ex-dividend date is Wednesday, April 2nd.

Upbound Group has increased its dividend by an average of 5.7% per year over the last three years. Upbound Group has a dividend payout ratio of 31.0% indicating that its dividend is sufficiently covered by earnings. Equities 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

Upbound Group stock opened at $23.74 on Monday. Upbound Group has a 52 week low of $23.35 and a 52 week high of $38.72. 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 stock has a market cap of $1.36 billion, a P/E ratio of 10.74 and a beta of 2.01. The stock has a 50 day moving average of $27.24 and a 200-day moving average of $29.55.

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

Insider Buying and Selling

In other news, Director Jeffrey J. Brown bought 1,146 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average price of $29.01 per share, with a total value of $33,245.46. Following the completion of the acquisition, the director now directly owns 86,380 shares in the company, valued at approximately $2,505,883.80. This trade represents a 1.34 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Fahmi Karam bought 11,500 shares of the business’s stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $25.82 per share, with a total value 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 trade represents a 7.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Loop Capital lowered their price objective on 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average 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.