Rent-A-Center Inc. (RCII) Given Consensus Rating of “Hold” by Analysts
Rent-A-Center Inc. (NASDAQ:RCII) has earned an average recommendation of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $10.75.
A number of brokerages have recently issued reports on RCII. Stifel Nicolaus restated a “hold” rating and issued a $11.50 price target (up previously from $8.50) on shares of Rent-A-Center in a research report on Monday, April 17th. Jefferies Group LLC dropped their target price on shares of Rent-A-Center from $12.00 to $9.00 and set a “hold” rating on the stock in a research report on Wednesday, May 3rd. Stephens downgraded shares of Rent-A-Center from an “equal weight” rating to an “underweight” rating in a research report on Friday, March 31st. BidaskClub upgraded shares of Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Zacks Investment Research downgraded shares of Rent-A-Center from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th.
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In other Rent-A-Center news, Chairman Mark E. Speese purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was acquired at an average price of $11.70 per share, for a total transaction of $1,170,000.00. Following the purchase, the chairman now owns 844,627 shares of the company’s stock, valued at approximately $9,882,135.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven L. Pepper purchased 45,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were acquired at an average price of $10.93 per share, with a total value of $491,850.00. The disclosure for this purchase can be found here. 3.40% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in shares of Rent-A-Center during the fourth quarter worth approximately $654,000. Comerica Bank raised its stake in shares of Rent-A-Center by 5.4% in the fourth quarter. Comerica Bank now owns 56,417 shares of the company’s stock worth $586,000 after buying an additional 2,898 shares during the period. State Street Corp raised its stake in shares of Rent-A-Center by 8.8% in the fourth quarter. State Street Corp now owns 1,593,327 shares of the company’s stock worth $17,927,000 after buying an additional 128,770 shares during the period. Renaissance Technologies LLC raised its stake in shares of Rent-A-Center by 12.5% in the fourth quarter. Renaissance Technologies LLC now owns 492,210 shares of the company’s stock worth $5,537,000 after buying an additional 54,700 shares during the period. Finally, Tudor Investment Corp Et Al raised its stake in shares of Rent-A-Center by 15.1% in the fourth quarter. Tudor Investment Corp Et Al now owns 27,500 shares of the company’s stock worth $309,000 after buying an additional 3,617 shares during the period.
Rent-A-Center (NASDAQ:RCII) traded up 1.70% during midday trading on Monday, reaching $12.58. 2,343,421 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $12.01 and its 200 day moving average price is $10.36. The firm’s market cap is $669.21 million. Rent-A-Center has a 1-year low of $7.76 and a 1-year high of $13.73.
Rent-A-Center (NASDAQ:RCII) last issued its quarterly earnings results on Monday, May 1st. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.06. The firm had revenue of $742 million for the quarter, compared to the consensus estimate of $733.43 million. Rent-A-Center had a negative net margin of 4.77% and a negative return on equity of 30.44%. The company’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 EPS. Equities research analysts anticipate that Rent-A-Center will post $0.34 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Investors of record on Monday, July 3rd will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, June 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.54%.
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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