Q4 2016 EPS Estimates for Rent-A-Center Inc. (RCII) Reduced by KeyCorp
Rent-A-Center Inc. (NASDAQ:RCII) – Research analysts at KeyCorp dropped their Q4 2016 earnings per share estimates for shares of Rent-A-Center in a report issued on Tuesday. KeyCorp analyst B. Thomas now forecasts that the firm will earn $0.32 per share for the quarter, down from their previous estimate of $0.42.
Several other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Rent-A-Center from a “sell” rating to a “hold” rating in a research report on Monday, October 3rd. Jefferies Group began coverage on shares of Rent-A-Center in a research report on Thursday. They set a “hold” rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $20.90.
Rent-A-Center (NASDAQ:RCII) traded down 2.93% during mid-day trading on Wednesday, hitting $9.27. 364,658 shares of the company traded hands. The company’s 50-day moving average price is $12.38 and its 200 day moving average price is $13.00. Rent-A-Center has a one year low of $8.00 and a one year high of $26.26. The company’s market capitalization is $492.39 million.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.49 by $0.08. The company had revenue of $749.60 million for the quarter, compared to analyst estimates of $782.12 million. Rent-A-Center had a positive return on equity of 14.03% and a negative net margin of 27.93%. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Monday, October 3rd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.35%. Rent-A-Center’s dividend payout ratio (DPR) is presently -1.93%.
In related news, CEO Robert Dale Davis purchased 10,000 shares of the stock in a transaction dated Monday, August 1st. The stock was bought at an average cost of $10.87 per share, with a total value of $108,700.00. Following the purchase, the chief executive officer now directly owns 131,850 shares in the company, valued at approximately $1,433,209.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.40% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Creative Planning boosted its stake in shares of Rent-A-Center by 10.8% in the third quarter. Creative Planning now owns 32,855 shares of the company’s stock worth $415,000 after buying an additional 3,200 shares during the period. Foundry Partners LLC boosted its stake in Rent-A-Center by 4.9% in the third quarter. Foundry Partners LLC now owns 177,550 shares of the company’s stock worth $2,244,000 after buying an additional 8,254 shares during the last quarter. Mason Street Advisors LLC acquired a new stake in Rent-A-Center during the second quarter worth about $127,000. Royal Bank of Canada boosted its stake in Rent-A-Center by 1,135.2% in the second quarter. Royal Bank of Canada now owns 42,293 shares of the company’s stock worth $519,000 after buying an additional 38,869 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Rent-A-Center during the second quarter worth about $291,000. 9.58% of the stock is owned by institutional investors.
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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