Rent-A-Center Inc. (NASDAQ:RCII) – Research analysts at KeyCorp cut their Q3 2016 EPS estimates for shares of Rent-A-Center in a note issued to investors on Tuesday. KeyCorp analyst B. Thomas now anticipates that the firm will post earnings per share of $0.12 for the quarter, down from their prior forecast of $0.39. KeyCorp also issued estimates for Rent-A-Center’s FY2016 earnings at $1.32 EPS and FY2017 earnings at $1.32 EPS.
Several other equities research analysts also recently commented on the company. Zacks Investment Research upgraded Rent-A-Center from a “sell” rating to a “hold” rating in a report on Monday, October 3rd. Jefferies Group started coverage on Rent-A-Center in a report on Thursday. They issued a “hold” rating and a $10.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $20.90.
Rent-A-Center (NASDAQ:RCII) traded down 4.0126% on Thursday, hitting $9.1668. 739,658 shares of the company traded hands. Rent-A-Center has a 1-year low of $8.00 and a 1-year high of $26.26. The firm’s 50 day moving average price is $12.38 and its 200 day moving average price is $13.00. The firm’s market capitalization is $486.90 million.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.08. The company earned $749.60 million during the quarter, compared to the consensus estimate of $782.12 million. Rent-A-Center had a positive return on equity of 14.03% and a negative net margin of 27.93%. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter last year, the company posted $0.50 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.35%. Rent-A-Center’s payout ratio is currently -1.93%.
In related news, CEO Robert Dale Davis acquired 10,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 131,850 shares in the company, valued at $1,433,209.50. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of RCII. A.R.T. Advisors LLC boosted its position in Rent-A-Center by 519.9% in the first quarter. A.R.T. Advisors LLC now owns 286,762 shares of the company’s stock worth $4,545,000 after buying an additional 240,500 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Rent-A-Center by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 246,098 shares of the company’s stock worth $3,901,000 after buying an additional 37,940 shares during the last quarter. Pinnacle Holdings LLC boosted its position in Rent-A-Center by 4.4% in the first quarter. Pinnacle Holdings LLC now owns 36,845 shares of the company’s stock worth $584,000 after buying an additional 1,550 shares during the last quarter. Renaissance Technologies LLC boosted its position in Rent-A-Center by 87.5% in the first quarter. Renaissance Technologies LLC now owns 808,210 shares of the company’s stock worth $12,810,000 after buying an additional 377,200 shares during the last quarter. Finally, Hancock Holding Co. bought a new position in Rent-A-Center during the first quarter worth $761,000. 9.58% of the stock is currently owned by hedge funds and other institutional investors.
Rent-A-Center Company Profile
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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