Shares of Rent-A-Center, Inc. (NASDAQ:RCII) have been given a consensus rating of “Buy” by the eight analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $69.67.
Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Rent-A-Center from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a research report on Thursday, May 27th. Bank of America assumed coverage on shares of Rent-A-Center in a research report on Wednesday, August 25th. They set a “buy” rating and a $85.00 price objective for the company. Finally, Janney Montgomery Scott upgraded shares of Rent-A-Center from a “neutral” rating to a “buy” rating in a research report on Thursday, August 12th.
Large investors have recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC acquired a new position in shares of Rent-A-Center during the second quarter worth $27,000. First Horizon Advisors Inc. increased its holdings in shares of Rent-A-Center by 651.4% during the second quarter. First Horizon Advisors Inc. now owns 789 shares of the company’s stock worth $41,000 after buying an additional 684 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Rent-A-Center in the second quarter worth $42,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Rent-A-Center in the first quarter worth $59,000. Finally, Carolina Wealth Advisors LLC grew its stake in shares of Rent-A-Center by 18.2% in the second quarter. Carolina Wealth Advisors LLC now owns 1,363 shares of the company’s stock worth $72,000 after purchasing an additional 210 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Wednesday, August 4th. The company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.27. Rent-A-Center had a net margin of 6.13% and a return on equity of 46.39%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The firm’s quarterly revenue was up 69.1% on a year-over-year basis. Sell-side analysts forecast that Rent-A-Center will post 6.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 19th. Stockholders of record on Tuesday, September 28th will be issued a dividend of $0.31 per share. The ex-dividend date is Monday, September 27th. This represents a $1.24 annualized dividend and a dividend yield of 1.99%. Rent-A-Center’s dividend payout ratio (DPR) is presently 35.13%.
Rent-A-Center, Inc engages in the provision of furniture, electronics, appliances, computers, and smartphones through flexible rental purchase agreements. It operates through the following segments: Rent-A-Center Business, Preferred Lease, Mexico, and Franchising. The Rent-A-Center Business segment consists of company-owned rent-to-own stores in the United States and Puerto Rico.
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