An issue of Rent-A-Center Inc. (NASDAQ:RCII) debt rose 1.4% as a percentage of its face value during trading on Thursday. The debt issue has a 6.625% coupon and will mature on November 15, 2020. The bonds in the issue are now trading at $88.25 and were trading at $96.94 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.
A number of research analysts recently commented on RCII shares. Jefferies Group started coverage on Rent-A-Center in a report on Thursday. They issued a “hold” rating and a $10.00 price objective on the stock. Zacks Investment Research upgraded Rent-A-Center from a “sell” rating to a “hold” rating in a report on Monday, October 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Rent-A-Center currently has an average rating of “Buy” and an average price target of $20.90.
Rent-A-Center Inc. (NASDAQ:RCII) opened at 8.96 on Friday. The firm’s 50-day moving average price is $12.27 and its 200-day moving average price is $12.97. The firm’s market capitalization is $475.92 million. Rent-A-Center Inc. has a 1-year low of $8.00 and a 1-year high of $26.26.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analyst estimates of $782.12 million. During the same quarter in the previous year, the business posted $0.50 earnings per share. Rent-A-Center’s revenue was down 8.1% on a year-over-year basis. On average, equities research analysts predict that Rent-A-Center Inc. will post $1.73 EPS for the current fiscal year.
The business also recently declared 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 3.57%. Rent-A-Center’s payout ratio is -1.93%.
In related news, CEO Robert Dale Davis purchased 10,000 shares of Rent-A-Center stock in a transaction dated Monday, August 1st. The stock was bought at an average cost of $10.87 per share, for a total transaction of $108,700.00. Following the transaction, 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 available at this hyperlink. Insiders own 3.40% of the company’s stock.
Large investors have recently bought and sold shares of the stock. ClariVest Asset Management LLC bought a new stake in Rent-A-Center during the second quarter worth about $105,000. KCG Holdings Inc. acquired a new position in shares of Rent-A-Center during the second quarter worth $125,000. Mason Street Advisors LLC acquired a new position in shares of Rent-A-Center during the second quarter worth $127,000. Mackenzie Financial Corp acquired a new position in shares of Rent-A-Center during the second quarter worth $132,000. Finally, Panagora Asset Management Inc. acquired a new position in shares of Rent-A-Center during the second quarter worth $150,000. Institutional investors own 9.58% of the company’s stock.
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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