Separately, Zacks Investment Research downgraded shares of Rent-A-Center from a buy rating to a hold rating in a research report on Wednesday, June 29th. 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 assigned a strong buy rating to the stock. Rent-A-Center presently has a consensus rating of Buy and a consensus target price of $20.90.
Shares of Rent-A-Center (NASDAQ:RCII) opened at 8.97 on Thursday. The stock’s market cap is $476.45 million. The company has a 50-day moving average of $12.06 and a 200 day moving average of $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 posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $782.12 million. During the same quarter in the previous year, the business posted $0.50 EPS. The company’s quarterly revenue was down 8.1% on a year-over-year basis. Equities research analysts forecast that Rent-A-Center will post $1.73 EPS for the current fiscal year.
The business also recently declared 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 3.57%. The ex-dividend date of this dividend is Thursday, September 29th. Rent-A-Center’s payout ratio is currently -1.93%.
In related news, CEO Robert Dale Davis purchased 10,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was acquired 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 owns 131,850 shares of the company’s stock, valued at $1,433,209.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. ClariVest Asset Management LLC bought a new stake in Rent-A-Center during the second quarter worth $105,000. KCG Holdings Inc. acquired a new position in Rent-A-Center during the second quarter worth approximately $125,000. Mason Street Advisors LLC acquired a new position in Rent-A-Center during the second quarter worth approximately $127,000. Mackenzie Financial Corp acquired a new position in Rent-A-Center during the second quarter worth approximately $132,000. Finally, Panagora Asset Management Inc. acquired a new position in Rent-A-Center during the second quarter worth approximately $150,000. 98.58% 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.
Receive News & Ratings for Rent-A-Center Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rent-A-Center Inc. and related companies with MarketBeat.com's FREE daily email newsletter.