Rent-A-Center Inc. (NASDAQ:RCII) – Stock analysts at Jefferies Group issued their Q3 2016 earnings estimates for Rent-A-Center in a research note issued to investors on Thursday. Jefferies Group analyst K. Joseph expects that the brokerage will earn $0.10 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $10.00 target price on the stock. Jefferies Group also issued estimates for Rent-A-Center’s Q4 2016 earnings at $0.34 EPS, FY2016 earnings at $1.33 EPS, Q1 2017 earnings at $0.43 EPS, Q2 2017 earnings at $0.40 EPS, Q3 2017 earnings at $0.23 EPS, Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.44 EPS, Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.25 EPS and FY2018 earnings at $1.51 EPS.
Separately, Zacks Investment Research downgraded Rent-A-Center from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $20.90.
Rent-A-Center (NASDAQ:RCII) opened at 8.97 on Monday. The stock’s market capitalization is $476.45 million. The stock’s 50 day moving average price is $12.06 and its 200-day moving average price is $12.84. Rent-A-Center has a 52 week low of $8.00 and a 52 week high of $26.26.
Rent-A-Center (NASDAQ:RCII) last issued its earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by $0.08. The business had revenue of $749.60 million for the quarter, compared to analysts’ expectations of $782.12 million. Rent-A-Center had a positive return on equity of 14.03% and a negative net margin of 27.93%. The business’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period last year, the company posted $0.50 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Monday, October 3rd will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.57%. Rent-A-Center’s dividend payout ratio (DPR) is presently -1.93%.
In other Rent-A-Center news, CEO Robert Dale Davis purchased 10,000 shares of the business’s stock in a transaction dated 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 acquisition, the chief executive officer now owns 131,850 shares in the company, valued at approximately $1,433,209.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in RCII. Vanguard Group Inc. boosted its stake in 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 period. BlackRock Fund Advisors boosted its stake in Rent-A-Center by 3.1% in the second quarter. BlackRock Fund Advisors now owns 3,420,170 shares of the company’s stock worth $42,000,000 after buying an additional 101,674 shares during the period. Brandes Investment Partners LP boosted its stake in Rent-A-Center by 1.4% in the second quarter. Brandes Investment Partners LP now owns 1,431,826 shares of the company’s stock worth $17,583,000 after buying an additional 19,745 shares during the period. LSV Asset Management boosted its stake in Rent-A-Center by 1.8% in the second quarter. LSV Asset Management now owns 1,414,908 shares of the company’s stock worth $17,375,000 after buying an additional 24,400 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Rent-A-Center by 0.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,406,634 shares of the company’s stock worth $17,273,000 after buying an additional 8,385 shares during the period. 98.58% of the stock is currently owned by 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.
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