Rent-A-Center Inc (NASDAQ:RCII) – Stock analysts at Jefferies Financial Group increased their Q2 2020 EPS estimates for Rent-A-Center in a research note issued to investors on Friday, June 26th. Jefferies Financial Group analyst K. Joseph now forecasts that the company will post earnings of $0.61 per share for the quarter, up from their prior forecast of $0.60. Jefferies Financial Group also issued estimates for Rent-A-Center’s Q4 2021 earnings at $0.71 EPS.
Rent-A-Center (NASDAQ:RCII) last posted its earnings results on Wednesday, May 6th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.09. The firm had revenue of $701.90 million for the quarter, compared to the consensus estimate of $699.23 million. Rent-A-Center had a return on equity of 29.64% and a net margin of 8.10%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 earnings per share.
Several other research firms also recently issued reports on RCII. ValuEngine upgraded Rent-A-Center from a “strong sell” rating to a “sell” rating in a research report on Monday, March 9th. Loop Capital increased their target price on Rent-A-Center from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. KeyCorp restated a “hold” rating on shares of Rent-A-Center in a research report on Wednesday, April 8th. BidaskClub downgraded Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Stifel Nicolaus increased their price objective on Rent-A-Center from $19.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $29.75.
NASDAQ:RCII opened at $27.13 on Monday. The company has a market cap of $1.47 billion, a P/E ratio of 7.03 and a beta of 1.54. The stock’s fifty day moving average price is $25.53 and its two-hundred day moving average price is $23.83. Rent-A-Center has a 1 year low of $11.69 and a 1 year high of $31.14. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.25 and a quick ratio of 0.93.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Friday, July 10th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $1.16 annualized dividend and a yield of 4.28%. Rent-A-Center’s payout ratio is 51.79%.
In other news, Director Christopher B. Hetrick acquired 8,725 shares of the business’s stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $23.80 per share, with a total value of $207,655.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $119,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey J. Brown acquired 20,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were purchased at an average cost of $23.01 per share, for a total transaction of $460,200.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at approximately $460,200. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Rent-A-Center by 56.9% during the fourth quarter. Bank of New York Mellon Corp now owns 855,075 shares of the company’s stock valued at $24,660,000 after purchasing an additional 310,123 shares during the last quarter. Norges Bank purchased a new position in shares of Rent-A-Center during the fourth quarter valued at approximately $21,623,000. Alyeska Investment Group L.P. lifted its holdings in shares of Rent-A-Center by 1,260.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 334,401 shares of the company’s stock valued at $9,644,000 after purchasing an additional 309,817 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of Rent-A-Center by 253.3% during the fourth quarter. Belpointe Asset Management LLC now owns 24,375 shares of the company’s stock valued at $703,000 after purchasing an additional 17,475 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Rent-A-Center by 9.3% during the fourth quarter. Amalgamated Bank now owns 9,874 shares of the company’s stock valued at $285,000 after purchasing an additional 840 shares during the last quarter. Hedge funds and other institutional investors own 98.13% of the company’s stock.
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; wheels and tires; and furniture, including accessories under rental purchase agreements.
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