Rent-A-Center Inc. (RCII) Releases Q3 Earnings Guidance
Rent-A-Center Inc. (NASDAQ:RCII) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.05-0.15 for the period, compared to the Thomson Reuters consensus estimate of $0.39.
Separately, Zacks Investment Research lowered Rent-A-Center from a buy rating to a hold rating in a report on Wednesday, June 29th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Rent-A-Center currently has an average rating of Buy and a consensus target price of $22.72.
Rent-A-Center Inc. (NASDAQ:RCII) opened at 12.88 on Tuesday. Rent-A-Center Inc. has a 52-week low of $9.76 and a 52-week high of $26.26. The firm’s market capitalization is $684.13 million. The stock’s 50 day moving average price is $12.60 and its 200 day moving average price is $13.05.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $749.60 million for the quarter, compared to analyst estimates of $782.12 million. During the same period last year, the business earned $0.50 EPS. The company’s revenue was down 8.1% compared to the same quarter last year. On average, analysts predict that Rent-A-Center Inc. will post $1.73 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Monday, October 3rd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, September 29th. Rent-A-Center’s dividend payout ratio (DPR) is -1.93%.
In other news, CEO Robert Dale Davis acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were bought at an average price of $10.87 per share, with a total value of $108,700.00. Following the acquisition, the chief executive officer now directly owns 131,850 shares in the company, valued at approximately $1,433,209.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. KCG Holdings Inc. bought a new position in shares of Rent-A-Center during the second quarter valued at about $125,000. Mackenzie Financial Corp bought a new position in shares of Rent-A-Center during the second quarter valued at about $132,000. Panagora Asset Management Inc. bought a new position in shares of Rent-A-Center during the second quarter valued at about $150,000. AXA acquired a new position in Rent-A-Center during the second quarter valued at $154,000. Finally, Clinton Group Inc. acquired a new position 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, 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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