Rent-A-Center Inc. (RCII) Shares Down 1.7%
Rent-A-Center Inc. (NASDAQ:RCII) shares fell 1.7% during trading 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.
Several brokerages have recently commented on RCII. Zacks Investment Research downgraded Rent-A-Center from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Topeka Capital Markets began coverage on Rent-A-Center in a research note on Monday, May 23rd. They set a “buy” rating and a $27.00 target price for the company. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Rent-A-Center currently has an average rating of “Buy” and a consensus target price of $28.29.
The stock’s market capitalization is $672.66 million. The stock’s 50 day moving average is $12.58 and its 200-day moving average is $13.35.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings results on Wednesday, April 27th. The company reported $0.48 earnings per share 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 period last year, the company posted $0.52 earnings per share. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. Analysts predict that Rent-A-Center Inc. will post $2.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 21st. Investors of record on Tuesday, July 5th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, June 30th.
Several hedge funds recently modified their holdings of RCII. Bank of Montreal Can increased its stake 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 valued at $1,000,000 after buying an additional 59,155 shares during the period. Retirement Systems of Alabama increased its stake 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 valued at $1,021,000 after buying an additional 905 shares during the period. CNA Financial Corp increased its stake 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 valued at $1,093,000 after buying an additional 35,250 shares during the period. Trexquant Investment LP increased its stake 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 valued at $1,205,000 after buying an additional 49,096 shares during the period. Finally, Lapides Asset Management LLC bought a new stake in shares of Rent-A-Center during the fourth quarter valued at approximately $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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