Shares of Rent-A-Center Inc. (NASDAQ:RCII) have earned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $25.33.
Separately, Zacks Investment Research cut shares of Rent-A-Center from a “hold” rating to a “sell” rating in a research note on Monday, August 1st.
Rent-A-Center (NASDAQ:RCII) opened at 12.82 on Friday. The stock has a 50 day moving average of $12.54 and a 200-day moving average of $13.24. The firm’s market capitalization is $680.95 million. Rent-A-Center has a 1-year low of $9.76 and a 1-year high of $26.26.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.08. Rent-A-Center had a negative net margin of 27.93% and a positive return on equity of 14.03%. The company had revenue of $749.60 million for the quarter, compared to the consensus estimate of $782.12 million. During the same period last year, the company earned $0.50 earnings per share. Rent-A-Center’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities research analysts anticipate that Rent-A-Center will post $1.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Monday, October 3rd will be paid a $0.08 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.32 dividend on an annualized basis and a yield of 2.50%. Rent-A-Center’s payout ratio is presently -1.93%.
In other Rent-A-Center news, CEO Robert Dale Davis acquired 10,000 shares of Rent-A-Center stock in a transaction on Monday, August 1st. The shares were purchased at an average cost of $10.87 per share, with a total value of $108,700.00. Following the completion of the purchase, the chief executive officer now owns 131,850 shares in the company, valued at $1,433,209.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.40% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in RCII. Vanguard Group Inc. boosted its position in shares of Rent-A-Center by 18.8% in the second quarter. Vanguard Group Inc. now owns 4,597,398 shares of the company’s stock worth $56,456,000 after buying an additional 726,627 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Rent-A-Center by 3.1% in the second quarter. BlackRock Fund Advisors now owns 3,420,170 shares of the company’s stock worth $42,000,000 after buying an additional 101,674 shares in the last quarter. Brandes Investment Partners LP boosted its position in shares of Rent-A-Center by 1.4% in the second quarter. Brandes Investment Partners LP now owns 1,431,826 shares of the company’s stock worth $17,583,000 after buying an additional 19,745 shares in the last quarter. LSV Asset Management boosted its position in shares of Rent-A-Center by 1.8% in the second quarter. LSV Asset Management now owns 1,414,908 shares of the company’s stock worth $17,375,000 after buying an additional 24,400 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Rent-A-Center by 0.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,406,634 shares of the company’s stock worth $17,273,000 after buying an additional 8,385 shares in the last quarter. 98.58% of the stock is currently owned by institutional investors.
Rent-A-Center, Inc is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico and Franchising.
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