$0.09 EPS Expected for Rent-A-Center Inc. (RCII) This Quarter
Wall Street brokerages predict that Rent-A-Center Inc. (NASDAQ:RCII) will post $0.09 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Rent-A-Center’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.14. Rent-A-Center posted earnings of $0.11 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 18.2%. The business is scheduled to issue its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Rent-A-Center will report full-year earnings of $0.24 per share for the current financial year, with EPS estimates ranging from $0.19 to $0.35. For the next year, analysts forecast that the firm will post earnings of $0.99 per share, with EPS estimates ranging from $0.59 to $1.42. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Rent-A-Center.
Rent-A-Center (NASDAQ:RCII) last issued its earnings results on Wednesday, July 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.08. Rent-A-Center had a negative net margin of 4.77% and a negative return on equity of 30.44%. The business had revenue of $667.64 million during the quarter, compared to the consensus estimate of $667.04 million. During the same period last year, the business posted $0.41 EPS. The firm’s revenue for the quarter was down 10.9% compared to the same quarter last year.
A number of equities research analysts have issued reports on RCII shares. Stephens downgraded Rent-A-Center from an “equal weight” rating to an “underweight” rating in a research report on Friday, March 31st. Northcoast Research upgraded Rent-A-Center from a “neutral” rating to a “buy” rating in a research report on Friday, March 31st. Janney Montgomery Scott started coverage on Rent-A-Center in a research report on Thursday, April 6th. They set a “buy” rating and a $12.00 price objective on the stock. Loop Capital restated a “hold” rating and set a $8.00 price objective on shares of Rent-A-Center in a research report on Wednesday, April 12th. Finally, Raymond James Financial, Inc. upgraded Rent-A-Center from a “market perform” rating to a “strong-buy” rating and set a $15.00 price objective on the stock in a research report on Wednesday, April 12th. 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 issued a strong buy rating to the stock. Rent-A-Center presently has a consensus rating of “Hold” and a consensus target price of $11.00.
In other Rent-A-Center news, Chairman Mark E. Speese purchased 100,000 shares of Rent-A-Center stock in a transaction dated Wednesday, May 10th. The shares were purchased at an average cost of $11.70 per share, for a total transaction of $1,170,000.00. Following the completion of the acquisition, the chairman now owns 844,627 shares in the company, valued at approximately $9,882,135.90. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven L. Pepper purchased 45,000 shares of Rent-A-Center stock in a transaction dated Tuesday, May 23rd. The stock was acquired at an average price of $10.93 per share, for a total transaction of $491,850.00. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.
Large investors have recently modified their holdings of the company. Louisiana State Employees Retirement System increased 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 valued at $192,000 after buying an additional 300 shares during the last quarter. Arizona State Retirement System increased 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 valued at $246,000 after buying an additional 300 shares during the last quarter. Municipal Employees Retirement System of Michigan increased 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 valued at $147,000 after buying an additional 440 shares during the last quarter. Mason Street Advisors LLC increased its stake in shares of Rent-A-Center by 7.1% in the first quarter. Mason Street Advisors LLC now owns 12,439 shares of the company’s stock valued at $110,000 after buying an additional 825 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in shares of Rent-A-Center by 5.8% in the first quarter. Thrivent Financial For Lutherans now owns 30,040 shares of the company’s stock valued at $266,000 after buying an additional 1,660 shares during the last quarter.
Rent-A-Center (NASDAQ RCII) opened at 13.08 on Friday. The company’s market cap is $695.80 million. Rent-A-Center has a 1-year low of $7.76 and a 1-year high of $13.33. The company’s 50-day moving average is $12.04 and its 200 day moving average is $10.43.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Monday, July 3rd were given a dividend of $0.08 per share. The ex-dividend date was Thursday, June 29th. This represents a $0.32 dividend on an annualized basis and a yield of 2.45%.
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Rent-A-Center Company Profile
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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