Rent-A-Center Inc. (RCII) Trading Up 3.2%
Rent-A-Center Inc. (NASDAQ:RCII)’s share price was up 3.2% during trading on Monday . The company traded as high as $13.18 and last traded at $13.16, with a volume of 378,733 shares. The stock had previously closed at $12.75.
A number of research firms recently commented on RCII. Topeka Capital Markets began coverage on shares of Rent-A-Center in a research note on Monday, May 23rd. They set a “buy” rating and a $27.00 price target for the company. Zacks Investment Research raised shares of Rent-A-Center from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Tuesday, April 5th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $28.29.
The stock’s 50 day moving average is $12.54 and its 200-day moving average is $13.32. The company’s market capitalization is $700.80 million.
Rent-A-Center (NASDAQ:RCII) last issued its earnings results on Wednesday, April 27th. The company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.08. The company earned $835.65 million during the quarter, compared to analyst estimates of $850.92 million. Rent-A-Center’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 earnings per share. Equities analysts anticipate that Rent-A-Center Inc. will post $2.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 21st. Shareholders of record on Tuesday, July 5th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, June 30th.
Other large investors recently modified their holdings of the company. Bank of Montreal Can raised 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 in 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 period. KBC Group NV raised its position in shares of Rent-A-Center by 283.9% in the fourth quarter. KBC Group NV now owns 71,837 shares of the company’s stock worth $1,075,000 after buying an additional 53,124 shares during the period. 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 period. Finally, 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 period.
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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