Equities analysts forecast that Rent-A-Center Inc (NASDAQ:RCII) will report $635.01 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Rent-A-Center’s earnings. The highest sales estimate is $649.75 million and the lowest is $600.80 million. Rent-A-Center reported sales of $643.97 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.4%. The business is scheduled to issue its next quarterly earnings report on Monday, October 29th.
On average, analysts expect that Rent-A-Center will report full year sales of $2.63 billion for the current year, with estimates ranging from $2.53 billion to $2.66 billion. For the next year, analysts forecast that the firm will report sales of $2.70 billion, with estimates ranging from $2.53 billion to $2.96 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Rent-A-Center.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Monday, July 30th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.24. Rent-A-Center had a net margin of 0.61% and a negative return on equity of 3.42%. The company had revenue of $655.70 million during the quarter, compared to the consensus estimate of $645.49 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis.
A number of equities research analysts have recently weighed in on the stock. TheStreet upgraded shares of Rent-A-Center from a “d+” rating to a “c-” rating in a research report on Monday, July 9th. Zacks Investment Research upgraded shares of Rent-A-Center from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Wednesday, July 4th. BidaskClub upgraded shares of Rent-A-Center from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 29th. Stephens upgraded shares of Rent-A-Center from an “underweight” rating to an “equal” rating in a research report on Monday, June 18th. Finally, Northcoast Research downgraded shares of Rent-A-Center from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $11.80.
In other Rent-A-Center news, insider Engaged Capital Llc sold 4,450,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $14.67, for a total transaction of $65,281,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in Rent-A-Center by 8.7% during the second quarter. BlackRock Inc. now owns 7,066,882 shares of the company’s stock valued at $104,023,000 after purchasing an additional 566,292 shares in the last quarter. Chicago Capital Management LLC acquired a new position in Rent-A-Center during the second quarter valued at approximately $15,150,000. Canada Pension Plan Investment Board raised its position in Rent-A-Center by 20.6% during the second quarter. Canada Pension Plan Investment Board now owns 839,600 shares of the company’s stock valued at $12,359,000 after purchasing an additional 143,400 shares in the last quarter. Northern Trust Corp raised its position in Rent-A-Center by 4.5% during the second quarter. Northern Trust Corp now owns 593,701 shares of the company’s stock valued at $8,739,000 after purchasing an additional 25,637 shares in the last quarter. Finally, United Services Automobile Association raised its position in Rent-A-Center by 5,292.2% during the second quarter. United Services Automobile Association now owns 569,361 shares of the company’s stock valued at $117,937,000 after purchasing an additional 558,802 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.
NASDAQ RCII opened at $14.31 on Friday. The company has a debt-to-equity ratio of 2.15, a current ratio of 2.60 and a quick ratio of 0.67. Rent-A-Center has a 1-year low of $7.22 and a 1-year high of $14.94. The company has a market capitalization of $769.44 million, a PE ratio of -26.56 and a beta of 0.59.
Rent-A-Center Company Profile
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; and furniture, including accessories under rental purchase agreements.
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