Q3 2019 EPS Estimates for Rent-A-Center Inc Increased by Jefferies Financial Group (NASDAQ:RCII)
Rent-A-Center Inc (NASDAQ:RCII) – Equities researchers at Jefferies Financial Group boosted their Q3 2019 earnings estimates for shares of Rent-A-Center in a research note issued to investors on Tuesday, July 9th. Jefferies Financial Group analyst K. Joseph now anticipates that the company will post earnings per share of $0.43 for the quarter, up from their previous forecast of $0.41. Jefferies Financial Group currently has a “Hold” rating and a $22.00 price objective on the stock. Jefferies Financial Group also issued estimates for Rent-A-Center’s Q3 2020 earnings at $0.47 EPS.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Monday, May 6th. The company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.29. The firm had revenue of $696.69 million during the quarter, compared to analysts’ expectations of $683.62 million. Rent-A-Center had a return on equity of 33.38% and a net margin of 1.34%. Rent-A-Center’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) EPS.
NASDAQ RCII opened at $27.83 on Thursday. The stock has a market cap of $1.49 billion, a PE ratio of 26.25 and a beta of 0.48. Rent-A-Center has a fifty-two week low of $11.98 and a fifty-two week high of $27.95. The business has a 50 day moving average of $25.34. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.82 and a current ratio of 2.55.
Institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. raised its position in shares of Rent-A-Center by 117.2% in the 1st quarter. Meeder Asset Management Inc. now owns 1,303 shares of the company’s stock valued at $27,000 after purchasing an additional 703 shares in the last quarter. First Quadrant L P CA acquired a new position in shares of Rent-A-Center in the 1st quarter valued at approximately $91,000. Advisors Preferred LLC acquired a new position in shares of Rent-A-Center in the 1st quarter valued at approximately $113,000. Anderson Fisher LLC acquired a new position in shares of Rent-A-Center in the 1st quarter valued at approximately $123,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Rent-A-Center by 334.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,188 shares of the company’s stock valued at $150,000 after purchasing an additional 5,534 shares in the last quarter. 95.26% of the stock is currently owned by institutional investors.
In other Rent-A-Center news, EVP Catherine M. Skula sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $24.45, for a total value of $122,250.00. Following the transaction, the executive vice president now directly owns 32,090 shares of the company’s stock, valued at approximately $784,600.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.81% of the company’s stock.
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; wheels and tires; and furniture, including accessories under rental purchase agreements.
Further Reading: Diversification
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