Rent-A-Center Inc. (NASDAQ:RCII) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.05-0.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.39.
Separately, Zacks Investment Research downgraded Rent-A-Center from a buy rating to a hold rating in a report on Wednesday, June 29th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $22.72.
Shares of Rent-A-Center Inc. (NASDAQ:RCII) opened at 9.18 on Wednesday. The firm’s market capitalization is $487.60 million. The stock has a 50 day moving average price of $12.49 and a 200 day moving average price of $13.02. Rent-A-Center Inc. has a 52 week low of $8.00 and a 52 week high of $26.26.
Rent-A-Center (NASDAQ:RCII) last announced its earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.08. Rent-A-Center had a positive return on equity of 14.03% and a negative net margin of 27.93%. The company earned $749.60 million during the quarter, compared to analysts’ expectations of $782.12 million. During the same quarter last year, the firm posted $0.50 earnings per share. The firm’s revenue was down 8.1% on a year-over-year basis. Analysts forecast that Rent-A-Center Inc. will post $1.73 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Monday, October 3rd will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.32 annualized dividend and a yield of 3.49%. Rent-A-Center’s dividend payout ratio (DPR) is presently -1.93%.
In related news, CEO Robert Dale Davis bought 10,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 131,850 shares of the company’s stock, valued at $1,433,209.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of RCII. KCG Holdings Inc. acquired a new stake in Rent-A-Center during the second quarter valued at $125,000. Mackenzie Financial Corp acquired a new stake in Rent-A-Center during the second quarter valued at $132,000. Panagora Asset Management Inc. acquired a new stake in Rent-A-Center during the second quarter valued at $150,000. AXA acquired a new stake in Rent-A-Center during the second quarter valued at $154,000. Finally, Clinton Group Inc. acquired a new stake in Rent-A-Center during the second quarter valued at $199,000. 9.58% of the stock is owned by institutional investors and hedge funds.
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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