Rent-A-Center Inc. (NASDAQ:RCII) declared a quarterly dividend on Thursday, September 8th. Shareholders of record on Monday, October 3rd will be given a dividend of 0.08 per share on Thursday, October 20th. This represents a $0.32 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, September 29th.
Rent-A-Center (NASDAQ:RCII) opened at 12.64 on Wednesday. The firm’s 50-day moving average is $12.56 and its 200-day moving average is $13.21. The stock’s market cap is $671.39 million. Rent-A-Center has a 52-week low of $9.76 and a 52-week high of $26.26.
Rent-A-Center (NASDAQ:RCII) last released its earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.08. Rent-A-Center had a positive return on equity of 14.03% and a negative net margin of 27.93%. The business had revenue of $749.60 million for the quarter, compared to analysts’ expectations of $782.12 million. During the same period in the previous year, the company earned $0.50 EPS. Rent-A-Center’s quarterly revenue was down 8.1% compared to the same quarter last year. Equities research analysts predict that Rent-A-Center will post $1.73 earnings per share for the current year.
In related news, CEO Robert Dale Davis bought 10,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were bought at an average price of $10.87 per share, with a total value of $108,700.00. Following the completion of the transaction, the chief executive officer now directly owns 131,850 shares of the company’s stock, valued at approximately $1,433,209.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Advisors LLC boosted its position in Rent-A-Center by 1.3% in the second quarter. BlackRock Advisors LLC now owns 25,246 shares of the company’s stock worth $310,000 after buying an additional 329 shares during the last quarter. Arizona State Retirement System boosted its position in Rent-A-Center by 1.5% in the second quarter. Arizona State Retirement System now owns 27,600 shares of the company’s stock worth $339,000 after buying an additional 400 shares during the last quarter. Profund Advisors LLC boosted its position in Rent-A-Center by 6.1% in the second quarter. Profund Advisors LLC now owns 17,376 shares of the company’s stock worth $213,000 after buying an additional 998 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Rent-A-Center by 1.1% in the second quarter. Thrivent Financial for Lutherans now owns 142,220 shares of the company’s stock worth $1,747,000 after buying an additional 1,600 shares during the last quarter. Finally, Greenwich Wealth Management LLC boosted its position in Rent-A-Center by 2.6% in the second quarter. Greenwich Wealth Management LLC now owns 73,967 shares of the company’s stock worth $908,000 after buying an additional 1,845 shares during the last quarter. 98.58% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research lowered shares of Rent-A-Center from a “hold” rating to a “sell” rating in a report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Rent-A-Center presently has an average rating of “Buy” and a consensus price target of $22.72.
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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