Rent-A-Center Inc. (RCII) Expected to Announce Quarterly Sales of $652.70 Million
Brokerages expect Rent-A-Center Inc. (NASDAQ:RCII) to post $652.70 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Rent-A-Center’s earnings. The highest sales estimate is $674.71 million and the lowest is $639.50 million. Rent-A-Center reported sales of $693.88 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.9%. The business is expected to announce its next quarterly earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Rent-A-Center will report full-year sales of $652.70 million for the current financial year, with estimates ranging from $2.73 billion to $2.77 billion. For the next year, analysts expect that the company will post sales of $2.76 billion per share, with estimates ranging from $2.61 billion to $2.91 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Rent-A-Center.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Wednesday, July 26th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The company had revenue of $667.64 million during the quarter, compared to analysts’ expectations of $667.04 million. Rent-A-Center had a negative net margin of 5.57% and a positive return on equity of 3.87%. The company’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share.
Several research firms recently weighed in on RCII. BidaskClub upgraded Rent-A-Center from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 5th. Zacks Investment Research upgraded Rent-A-Center from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Stifel Nicolaus reiterated a “hold” rating and set a $13.00 price objective (up previously from $11.50) on shares of Rent-A-Center in a research note on Friday, July 28th. Loop Capital cut Rent-A-Center from a “hold” rating to a “sell” rating and set a $8.00 price objective for the company. in a research note on Wednesday, June 7th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $12.00 price objective on shares of Rent-A-Center in a research note on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $11.50.
Shares of Rent-A-Center (NASDAQ RCII) opened at 10.80 on Friday. The stock’s market capitalization is $575.65 million. The company has a 50-day moving average price of $12.67 and a 200-day moving average price of $11.46. Rent-A-Center has a 52-week low of $7.76 and a 52-week high of $13.89.
A number of large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its stake in Rent-A-Center by 1.1% during the second quarter. Public Employees Retirement System of Ohio now owns 24,038 shares of the company’s stock valued at $282,000 after buying an additional 263 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Rent-A-Center by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 21,700 shares of the company’s stock worth $192,000 after purchasing an additional 300 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Rent-A-Center by 1.1% in the first quarter. Arizona State Retirement System now owns 27,700 shares of the company’s stock worth $246,000 after purchasing an additional 300 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of Rent-A-Center by 0.8% in the second quarter. Texas Permanent School Fund now owns 38,839 shares of the company’s stock worth $455,000 after purchasing an additional 324 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of Rent-A-Center by 3.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 12,550 shares of the company’s stock worth $147,000 after purchasing an additional 440 shares during the last quarter.
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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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