Rent-A-Center Inc. (RCII) Shares Down 1.7%
Rent-A-Center Inc. (NASDAQ:RCII) shares were down 1.7% on Monday . The stock traded as low as $12.89 and last traded at $12.93, with a volume of 460,040 shares. The stock had previously closed at $13.16.
RCII has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Rent-A-Center from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Tuesday, April 5th. Topeka Capital Markets started coverage on shares of Rent-A-Center in a report on Monday, May 23rd. They issued a “buy” rating and a $27.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $28.29.
The firm’s market capitalization is $682.75 million. The company has a 50-day moving average of $12.57 and a 200 day moving average of $13.36.
Rent-A-Center (NASDAQ:RCII) last announced its earnings results on Wednesday, April 27th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. The firm had revenue of $835.65 million for the quarter, compared to analyst estimates of $850.92 million. During the same quarter last year, the business earned $0.52 EPS. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, analysts forecast that Rent-A-Center Inc. will post $2.02 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 21st. Shareholders of record on Tuesday, July 5th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, June 30th.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in shares of Rent-A-Center by 771.4% in the fourth quarter. Bank of Montreal Can now owns 66,824 shares of the company’s stock worth $1,000,000 after buying an additional 59,155 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Rent-A-Center by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 68,189 shares of the company’s stock worth $1,021,000 after buying an additional 905 shares during the last quarter. CNA Financial Corp raised its position in shares of Rent-A-Center by 93.3% in the fourth quarter. CNA Financial Corp now owns 73,050 shares of the company’s stock worth $1,093,000 after buying an additional 35,250 shares during the last quarter. Trexquant Investment LP raised its position in shares of Rent-A-Center by 156.5% in the fourth quarter. Trexquant Investment LP now owns 80,476 shares of the company’s stock worth $1,205,000 after buying an additional 49,096 shares during the last quarter. Finally, Lapides Asset Management LLC bought a new position in shares of Rent-A-Center during the fourth quarter worth $1,340,000.
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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