Stock market today: S&P 500 drops for fifth day as focus shifts to Powell’s speech
In a turbulent market environment, UPBD stock has reached a 52-week low, with shares plummeting to $25.49. According to InvestingPro analysis, the stock appears undervalued at these levels, while offering an attractive 6.04% dividend yield and trading at a P/E ratio of 11.44x. This significant downturn reflects a broader trend for Rent-A-Center Inc (NASDAQ:UPBD), which has seen its stock value decrease by 22.38% over the past year. Investors are closely monitoring the company’s performance as it navigates through the headwinds that have led to this notable decline. The 52-week low serves as a critical marker for the company, highlighting the challenges it faces in a competitive and ever-changing market landscape. Despite these challenges, InvestingPro data shows the company maintains a healthy current ratio of 2.91, with analysts projecting profitability for the coming year. For deeper insights into UPBD’s valuation and prospects, check out the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Upbound Group, Inc. reported its fourth-quarter earnings, surpassing analyst expectations. The company posted adjusted earnings per share of $1.05, beating the consensus estimate of $1.03. Revenue for the quarter reached $1.08 billion, exceeding the projected $1.06 billion and marking a 1.9% increase from the previous year. On a GAAP basis, Upbound reported diluted earnings per share of $0.55 for the fourth quarter. For the full year 2024, the company achieved total revenue of $4.3 billion and GAAP diluted earnings per share of $2.21, with adjusted EPS at $3.83. Additionally, Upbound Group announced a 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. The decision followed a thorough review and solicitation of proposals from various accounting firms. Upbound Group did not report any disagreements with Ernst & Young on accounting matters during the fiscal years 2023 and 2024.
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