Rent-A-Center Inc. (NASDAQ:RCII) – Equities research analysts at KeyCorp reduced their Q3 2016 earnings per share estimates for shares of Rent-A-Center in a report issued on Tuesday. KeyCorp analyst B. Thomas now expects that the brokerage will post earnings of $0.12 per share for the quarter, down from their prior estimate of $0.39. KeyCorp also issued estimates for Rent-A-Center’s FY2016 earnings at $1.32 EPS and FY2017 earnings at $1.32 EPS.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates 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 firm earned $749.60 million during the quarter, compared to analyst estimates of $782.12 million. During the same period in the prior year, the business posted $0.50 EPS. The company’s revenue for the quarter was down 8.1% on a year-over-year basis.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Rent-A-Center from a “hold” rating to a “sell” rating in a research note on Monday, August 1st. Jefferies Group assumed coverage on shares of Rent-A-Center in a research note on Thursday. They issued a “hold” rating and a $10.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Rent-A-Center has an average rating of “Buy” and an average target price of $20.90.
Rent-A-Center (NASDAQ:RCII) opened at 8.93 on Thursday. The company has a 50-day moving average of $12.16 and a 200-day moving average of $12.92. The firm’s market cap is $474.33 million. Rent-A-Center has a 1-year low of $8.00 and a 1-year high of $26.26.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Monday, October 3rd will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Thursday, September 29th. Rent-A-Center’s dividend payout ratio (DPR) is -1.93%.
In other Rent-A-Center news, CEO Robert Dale Davis purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was acquired at an average cost of $10.87 per share, with a total value of $108,700.00. Following the completion of the purchase, the chief executive officer now directly owns 131,850 shares in the company, valued at approximately $1,433,209.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.40% of the company’s stock.
Several large investors have recently bought and sold shares of RCII. Creative Planning increased its stake 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 during the period. Foundry Partners LLC increased its stake 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 during the period. Mason Street Advisors LLC acquired a new stake in Rent-A-Center during the second quarter worth $127,000. Royal Bank of Canada increased its stake 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 during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Rent-A-Center during the second quarter worth $291,000. 9.58% of the stock is owned by institutional investors and hedge funds.
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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