Rent-A-Center Inc. (RCII) Trading 3.2% Higher
Shares of Rent-A-Center Inc. (NASDAQ:RCII) traded up 3.2% during mid-day trading on Monday . The company traded as high as $13.18 and last traded at $13.16, with a volume of 378,733 shares traded. The stock had previously closed at $12.75.
A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Topeka Capital Markets started coverage on shares of Rent-A-Center in a report on Monday, May 23rd. They issued a “buy” rating and a $27.00 price target on the stock. Three equities research 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 stock. The stock has an average rating of “Buy” and a consensus target price of $28.29.
The firm’s 50-day moving average is $12.56 and its 200-day moving average is $13.29. The firm’s market cap is $711.95 million.
Rent-A-Center (NASDAQ:RCII) last released its earnings results on Wednesday, April 27th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. The business earned $835.65 million during the quarter, compared to the consensus estimate of $850.92 million. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Equities research analysts forecast that Rent-A-Center Inc. will post $2.02 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 21st. Investors of record on Tuesday, July 5th were issued a $0.08 dividend. The ex-dividend date was Thursday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.40%.
Several hedge funds have added to or reduced their stakes in the company. Brandes Investment Partners LP increased its stake in Rent-A-Center by 52.8% in the fourth quarter. Brandes Investment Partners LP now owns 1,074,362 shares of the company’s stock worth $16,083,000 after buying an additional 371,026 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in Rent-A-Center during the fourth quarter worth about $2,682,000. Lapides Asset Management LLC purchased a new stake in Rent-A-Center during the fourth quarter worth about $1,340,000. Bank of Montreal Can raised its stake in Rent-A-Center by 771.4% in the fourth quarter. Bank of Montreal Can now owns 66,824 shares of the company’s stock worth $1,000,000 after buying an additional 59,155 shares in the last quarter. Finally, KBC Group NV raised its stake in 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 in the last quarter.
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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