Rent-A-Center Inc. (NASDAQ:RCII) – Analysts at Jefferies Group issued their Q3 2016 earnings estimates for shares of Rent-A-Center in a research note issued on Thursday. Jefferies Group analyst K. Joseph forecasts that the firm will post earnings of $0.10 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $10.00 price target on the stock. Jefferies Group also issued estimates for Rent-A-Center’s Q4 2016 earnings at $0.34 EPS, FY2016 earnings at $1.33 EPS, Q1 2017 earnings at $0.43 EPS, Q2 2017 earnings at $0.40 EPS, Q3 2017 earnings at $0.23 EPS, Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.44 EPS, Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.25 EPS and FY2018 earnings at $1.51 EPS.
Separately, Zacks Investment Research lowered Rent-A-Center from a “hold” rating to a “sell” rating in a research note on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $20.90.
Shares of Rent-A-Center (NASDAQ:RCII) opened at 9.26 on Monday. The company’s market cap is $491.85 million. The stock’s 50 day moving average price is $11.97 and its 200-day moving average price is $12.80. Rent-A-Center has a 52-week low of $8.00 and a 52-week high of $26.26.
Rent-A-Center (NASDAQ:RCII) last released its earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $749.60 million for 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 company’s revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 EPS.
Large investors have recently modified their holdings of the company. BlackRock Fund Advisors increased its stake in shares of Rent-A-Center by 32.7% in the first quarter. BlackRock Fund Advisors now owns 3,318,496 shares of the company’s stock worth $52,598,000 after buying an additional 817,206 shares in the last quarter. Vanguard Group Inc. increased its stake 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. AJO LP bought a new stake in shares of Rent-A-Center during the second quarter worth about $7,502,000. Canada Pension Plan Investment Board increased its stake in shares of Rent-A-Center by 1,210.1% in the first quarter. Canada Pension Plan Investment Board now owns 660,300 shares of the company’s stock worth $10,466,000 after buying an additional 609,900 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its stake in shares of Rent-A-Center by 77.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,218,472 shares of the company’s stock worth $14,963,000 after buying an additional 533,388 shares in the last quarter. 98.58% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Robert Dale Davis purchased 10,000 shares of Rent-A-Center stock in a transaction that occurred on Monday, August 1st. The shares were acquired at an average price of $10.87 per share, with a total value of $108,700.00. Following the completion of the transaction, the chief executive officer now directly owns 131,850 shares of the company’s stock, valued at approximately $1,433,209.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.40% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Monday, October 3rd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Thursday, September 29th. Rent-A-Center’s dividend payout ratio is currently -1.93%.
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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