Stock market today: S&P 500 drops for fifth day as focus shifts to Powell’s speech
In a challenging market environment, UPBD’s stock has hit a 52-week low, with shares dropping to $24.12, representing a significant discount to its InvestingPro Fair Value. Despite the recent decline, the company maintains a notable 6.41% dividend yield, offering potential value for income-focused investors. The company, which has been navigating through a period of economic headwinds, has seen a significant decline in its stock value over the past year. Investors have been closely monitoring UPBD as it reached this price level, marking the lowest point in the stock’s performance within the last year. According to InvestingPro data, analysts maintain a bullish outlook, with price targets ranging from $30 to $50, suggesting potential upside from current levels. The 1-year change data for Rent-A-Center Inc (NASDAQ:UPBD), UPBD’s parent company, further reflects the downward trend, with a notable decrease of 26.93% in stock value. This decline underscores the broader issues faced by the company, including market volatility and competitive pressures. Trading at 10.8x earnings, the stock’s valuation metrics and detailed analysis are available in the comprehensive Pro Research Report on InvestingPro, along with 8 additional key insights about the company’s prospects.
In other recent news, Upbound Group, Inc. reported fourth-quarter earnings that exceeded analyst expectations, with adjusted earnings per share reaching $1.05, surpassing the consensus estimate of $1.03. The company also reported revenue of $1.08 billion for the quarter, which was higher than the projected $1.06 billion and marked a 1.9% increase compared to the same period last year. On a GAAP basis, Upbound’s diluted earnings per share for the fourth quarter stood at $0.55. For the full year 2024, the company achieved total revenue of $4.3 billion and GAAP diluted earnings per share of $2.21, with an adjusted full-year EPS of $3.83. Additionally, Upbound Group announced a significant change in its financial oversight by appointing Deloitte & Touche LLP as its new independent auditor, replacing Ernst & Young LLP for the fiscal year ending December 31, 2025. This decision followed a comprehensive review process and reflects the company’s commitment to maintaining strong financial governance. Throughout previous fiscal years, Upbound Group reported no disagreements with Ernst & Young on accounting principles or practices. The change in auditors marks a new chapter in the company’s financial management strategy.
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