Rent-A-Center Inc. (NASDAQ:RCII) – Jefferies Group reduced their FY2017 earnings estimates for shares of Rent-A-Center in a note issued to investors on Tuesday. Jefferies Group analyst K. Joseph now forecasts that the firm will earn $1.24 per share for the year, down from their prior forecast of $1.25. Jefferies Group currently has a “Hold” rating and a $10.00 target price on the stock.
Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $693.90 million for the quarter, compared to analysts’ expectations of $701.27 million. Rent-A-Center had a negative net margin of 28.44% and a positive return on equity of 16.57%. The company’s revenue was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.
RCII has been the subject of several other research reports. Sidoti cut Rent-A-Center from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 15th. Zacks Investment Research upgraded Rent-A-Center from a “sell” rating to a “hold” rating in a research report on Monday, October 3rd. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Rent-A-Center in a research report on Tuesday, December 6th. Finally, Loop Capital began coverage on Rent-A-Center in a research report on Tuesday, December 13th. They issued a “hold” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Rent-A-Center currently has an average rating of “Hold” and an average price target of $16.55.
Shares of Rent-A-Center (NASDAQ:RCII) traded down 2.03% on Wednesday, hitting $10.62. 798,794 shares of the stock traded hands. The firm’s 50 day moving average is $11.69 and its 200-day moving average is $11.83. The company’s market cap is $564.44 million. Rent-A-Center has a 12 month low of $8.00 and a 12 month high of $16.37.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 26th. Investors of record on Thursday, January 5th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Tuesday, January 3rd. Rent-A-Center’s dividend payout ratio is presently -1.95%.
A number of hedge funds have recently modified their holdings of RCII. Vanguard Group Inc. raised its stake in shares of Rent-A-Center by 18.8% in the second quarter. Vanguard Group Inc. now owns 4,597,398 shares of the company’s stock worth $56,456,000 after buying an additional 726,627 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Rent-A-Center by 8.5% in the third quarter. BlackRock Fund Advisors now owns 3,711,500 shares of the company’s stock worth $46,913,000 after buying an additional 291,330 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Rent-A-Center by 636.5% in the third quarter. JPMorgan Chase & Co. now owns 1,929,963 shares of the company’s stock worth $24,394,000 after buying an additional 1,667,921 shares during the last quarter. Pzena Investment Management LLC raised its stake in shares of Rent-A-Center by 2.7% in the third quarter. Pzena Investment Management LLC now owns 1,825,479 shares of the company’s stock worth $23,074,000 after buying an additional 48,071 shares during the last quarter. Finally, Brandes Investment Partners LP raised its stake in shares of Rent-A-Center by 2.5% in the third quarter. Brandes Investment Partners LP now owns 1,467,550 shares of the company’s stock worth $18,550,000 after buying an additional 35,724 shares during the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.
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.
What are top analysts saying about Rent-A-Center Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Rent-A-Center Inc. and related companies.