Rent-A-Center Inc. (NASDAQ:RCII) – Investment analysts at Northcoast Research lowered their Q1 2017 EPS estimates for shares of Rent-A-Center in a research note issued on Thursday. Northcoast Research analyst N. Mitchell now anticipates that the firm will post earnings per share of $0.32 for the quarter, down from their previous forecast of $0.40. Northcoast Research also issued estimates for Rent-A-Center’s Q2 2017 earnings at $0.32 EPS, Q3 2017 earnings at $0.28 EPS and FY2017 earnings at $1.33 EPS.
Rent-A-Center (NASDAQ:RCII) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $749.60 million for the quarter, compared to analysts’ expectations of $782.12 million. During the same period in the prior year, the company earned $0.50 EPS. The firm’s quarterly revenue was down 8.1% on a year-over-year basis.
RCII has been the subject of a number of other research reports. Zacks Investment Research cut Rent-A-Center from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Jefferies Group began coverage on Rent-A-Center in a research note on Thursday. They set a “hold” rating and a $10.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $20.90.
Shares of Rent-A-Center (NASDAQ:RCII) opened at 8.93 on Friday. The company’s 50-day moving average price is $12.16 and its 200-day moving average price is $12.92. The stock’s market cap is $474.33 million. Rent-A-Center has a one year low of $8.00 and a one year high of $26.26.
Several hedge funds have recently bought and sold shares of the company. ClariVest Asset Management LLC purchased a new stake in shares of Rent-A-Center during the second quarter valued at approximately $105,000. KCG Holdings Inc. purchased a new stake in shares of Rent-A-Center during the second quarter valued at approximately $125,000. Mason Street Advisors LLC purchased a new stake in shares of Rent-A-Center during the second quarter valued at approximately $127,000. Mackenzie Financial Corp purchased a new stake in shares of Rent-A-Center during the second quarter valued at approximately $132,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Rent-A-Center during the second quarter valued at approximately $150,000. 9.58% of the stock is owned by institutional investors and hedge funds.
In other Rent-A-Center news, CEO Robert Dale Davis bought 10,000 shares of Rent-A-Center stock in a transaction on Monday, August 1st. The stock was acquired at an average price of $10.87 per share, with a total value of $108,700.00. Following the acquisition, the chief executive officer now owns 131,850 shares in the company, valued at $1,433,209.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Monday, October 3rd will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Thursday, September 29th. Rent-A-Center’s payout ratio is -1.93%.
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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