Rent-A-Center (RCII) – Analysts’ Recent Ratings Changes
Rent-A-Center (NASDAQ: RCII) has recently received a number of price target changes and ratings updates:
- 8/5/2017 – Rent-A-Center was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
- 7/28/2017 – Rent-A-Center was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of Rent-A-Center have underperformed the industry so far in the year. This is quite evident as investors remain concerned about the company’s waning top and bottom lines. In the second quarter of 2017, this rent-to-own operator posted a loss of $0.01 per share that missed the Zacks Consensus Estimate and also fell substantially from the year-ago period. Total revenue also slid year over year but managed to beat the respective estimate, after missing the same in the trailing seven quarters. Comps also fell but improved sequentially. Nevertheless, the company is concentrating on a new labor model, supply chain initiative and productivity enhancements. These endeavors are directed toward improving the performance of Core U.S. segment, optimizing the AcceptanceNOW business and enhancing distribution channels as well as integrating retail and online offerings. The company is also rationalizing its store base and lowering its debt load.”
- 7/28/2017 – Rent-A-Center had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $13.00 price target on the stock, up previously from $11.50.
- 7/18/2017 – Rent-A-Center had its “sell” rating reaffirmed by analysts at Loop Capital. They now have a $8.00 price target on the stock.
- 7/16/2017 – Rent-A-Center was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
- 7/4/2017 – Rent-A-Center was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Rent-A-Center has underperformed the Zacks categorized industry in the past six months. We remained concerned about the company’s top and bottom line performance which has been declining year-over-year. Moreover, total revenue has also missed the consensus mark for the seventh straight quarter. Comparable store sales have also witnessed a sharp decline in the first-quarter 2017. For the second-quarter the Zacks Consensus Estimate has witnessed downward revision in the past 30 days. However, the company is concentrating on a new labor model, supply chain initiative and productivity enhancements. These endeavors are directed toward improving the performance of Core U.S. segment, optimizing the AcceptanceNOW business and enhancing distribution channels as well as integrating retail and online offerings. The company is also rationalizing its store base and lowering its debt load.”
Shares of Rent-A-Center Inc. (RCII) opened at 13.31 on Tuesday. The company’s 50 day moving average price is $12.10 and its 200-day moving average price is $10.49. The company’s market capitalization is $709.44 million. Rent-A-Center Inc. has a 1-year low of $7.76 and a 1-year high of $13.71.
Rent-A-Center (NASDAQ:RCII) last released its earnings results on Wednesday, July 26th. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.08. The company had revenue of $667.64 million for the quarter, compared to analysts’ expectations of $667.04 million. Rent-A-Center had a negative net margin of 5.57% and a negative return on equity of 43.47%. Rent-A-Center’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. On average, equities analysts forecast that Rent-A-Center Inc. will post $0.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Monday, July 3rd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.32 annualized dividend and a yield of 2.40%.
In related news, Director Steven L. Pepper bought 45,000 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were bought at an average cost of $10.93 per share, for a total transaction of $491,850.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark E. Speese bought 100,000 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were bought at an average price of $11.70 per share, for a total transaction of $1,170,000.00. Following the completion of the transaction, the chairman now directly owns 844,627 shares of the company’s stock, valued at approximately $9,882,135.90. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by insiders.
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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