Brokers Issue Forecasts for Rent-A-Center Inc.’s Q3 2016 Earnings (RCII)
Rent-A-Center Inc. (NASDAQ:RCII) – Stock analysts at Jefferies Group issued their Q3 2016 EPS estimates for Rent-A-Center in a research note issued to investors on Thursday. Jefferies Group analyst K. Joseph forecasts that the firm will post earnings of $0.10 per share for the quarter. Jefferies Group has a “Hold” rating and a $10.00 price objective on the stock. Jefferies Group also issued estimates for Rent-A-Center’s Q4 2016 earnings at $0.34 EPS, FY2016 earnings at $1.33 EPS, Q1 2017 earnings at $0.43 EPS, Q2 2017 earnings at $0.40 EPS, Q3 2017 earnings at $0.23 EPS, Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.44 EPS, Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.25 EPS and FY2018 earnings at $1.51 EPS.
Rent-A-Center (NASDAQ:RCII) last issued its earnings results on Wednesday, July 27th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.08. Rent-A-Center had a positive return on equity of 14.03% and a negative net margin of 27.93%. The business 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 posted $0.50 earnings per share. The business’s revenue was down 8.1% compared to the same quarter last year.
Separately, Zacks Investment Research downgraded 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 given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $20.90.
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Shares of Rent-A-Center (NASDAQ:RCII) opened at 8.93 on Monday. The company’s 50-day moving average price is $12.16 and its 200 day moving average price is $12.92. The firm’s market capitalization is $474.33 million. Rent-A-Center has a 12-month low of $8.00 and a 12-month high of $26.26.
Several institutional investors have recently added to or reduced their stakes in the stock. ClariVest Asset Management LLC acquired a new position in Rent-A-Center during the second quarter valued at about $105,000. KCG Holdings Inc. acquired a new position in Rent-A-Center during the second quarter valued at about $125,000. Mason Street Advisors LLC acquired a new position in Rent-A-Center during the second quarter valued at about $127,000. Mackenzie Financial Corp acquired a new position in Rent-A-Center during the second quarter valued at about $132,000. Finally, Panagora Asset Management Inc. acquired a new position in Rent-A-Center during the second quarter valued at about $150,000. 9.58% of the stock is owned by institutional investors.
In other Rent-A-Center news, CEO Robert Dale Davis bought 10,000 shares of Rent-A-Center stock in a transaction dated Monday, August 1st. The stock was bought at an average cost of $10.87 per share, with a total value of $108,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 131,850 shares in the company, valued at approximately $1,433,209.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.40% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Monday, October 3rd will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Thursday, September 29th. Rent-A-Center’s dividend payout ratio (DPR) is presently -1.93%.
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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