Rent-A-Center Inc. (RCII) Coverage Initiated at Jefferies Group
Stock analysts at Jefferies Group initiated coverage on shares of Rent-A-Center Inc. (NASDAQ:RCII) in a report released on Thursday. The firm set a “hold” rating and a $10.00 price target on the stock. Jefferies Group’s price target suggests a potential upside of 11.98% from the stock’s current price.
Separately, Zacks Investment Research cut shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $20.90.
Rent-A-Center (NASDAQ:RCII) opened at 8.93 on Thursday. The stock’s 50 day moving average is $12.16 and its 200 day moving average is $12.92. Rent-A-Center has a one year low of $8.00 and a one year high of $26.26. The stock’s market capitalization is $474.33 million.
Rent-A-Center (NASDAQ:RCII) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $749.60 million for the quarter, compared to the consensus estimate of $782.12 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. Rent-A-Center’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities analysts forecast that Rent-A-Center will post $1.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Monday, October 3rd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.58%. The ex-dividend date is Thursday, September 29th. 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 company’s stock in a transaction that occurred on Monday, August 1st. The shares were purchased at an average price of $10.87 per share, with a total value of $108,700.00. Following the purchase, the chief executive officer now owns 131,850 shares of the company’s stock, valued at approximately $1,433,209.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.40% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors boosted its position in shares of Rent-A-Center by 32.7% in the first quarter. BlackRock Fund Advisors now owns 3,318,496 shares of the company’s stock worth $52,598,000 after buying an additional 817,206 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Rent-A-Center by 18.8% in the second quarter. Vanguard Group Inc. now owns 4,597,398 shares of the company’s stock worth $56,456,000 after buying an additional 726,627 shares in the last quarter. AJO LP bought a new position in shares of Rent-A-Center during the second quarter worth $7,502,000. Canada Pension Plan Investment Board boosted its position in shares of Rent-A-Center by 1,210.1% in the first quarter. Canada Pension Plan Investment Board now owns 660,300 shares of the company’s stock worth $10,466,000 after buying an additional 609,900 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its position in shares of Rent-A-Center by 77.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,218,472 shares of the company’s stock worth $14,963,000 after buying an additional 533,388 shares in the last quarter. 98.58% of the stock is currently owned by hedge funds and other 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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