Rent-A-Center Inc. (NASDAQ:RCII) – Analysts at KeyCorp cut their Q4 2016 earnings estimates for shares of Rent-A-Center in a research report issued on Tuesday. KeyCorp analyst B. Thomas now anticipates that the brokerage will post earnings per share of $0.32 for the quarter, down from their prior estimate of $0.42.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.08. Rent-A-Center had a negative net margin of 27.93% and a positive return on equity of 14.03%. The business earned $749.60 million during the quarter, compared to analyst estimates of $782.12 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The firm’s quarterly revenue was down 8.1% on a year-over-year basis.
Separately, Zacks Investment Research downgraded shares of Rent-A-Center from a “hold” rating to a “sell” rating in a research report on Monday, August 1st. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.72.
Rent-A-Center (NASDAQ:RCII) traded up 3.59% during midday trading on Wednesday, hitting $9.51. 1,579,362 shares of the stock were exchanged. Rent-A-Center has a 1-year low of $8.00 and a 1-year high of $26.26. The firm’s market capitalization is $505.13 million. The firm’s 50-day moving average price is $12.49 and its 200 day moving average price is $13.02.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning increased its position in Rent-A-Center by 10.8% in the third quarter. Creative Planning now owns 32,855 shares of the company’s stock worth $415,000 after buying an additional 3,200 shares in the last quarter. Foundry Partners LLC increased its position in Rent-A-Center by 4.9% in the third quarter. Foundry Partners LLC now owns 177,550 shares of the company’s stock worth $2,244,000 after buying an additional 8,254 shares in the last quarter. Mason Street Advisors LLC bought a new position in Rent-A-Center during the second quarter worth $127,000. Royal Bank of Canada increased its position in Rent-A-Center by 1,135.2% in the second quarter. Royal Bank of Canada now owns 42,293 shares of the company’s stock worth $519,000 after buying an additional 38,869 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Rent-A-Center during the second quarter worth $291,000. 9.58% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Robert Dale Davis bought 10,000 shares of Rent-A-Center stock in a transaction dated Monday, August 1st. The stock was purchased at an average cost of $10.87 per share, with a total value of $108,700.00. Following the transaction, the chief executive officer now directly owns 131,850 shares of the company’s stock, valued at $1,433,209.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.40% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Thursday, September 29th. Rent-A-Center’s dividend payout ratio is currently -1.93%.
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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