Brokerages Anticipate Rent-A-Center, Inc. (NASDAQ:RCII) Will Announce Quarterly Sales of $1.18 Billion

Brokerages forecast that Rent-A-Center, Inc. (NASDAQ:RCII) will report $1.18 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Rent-A-Center’s earnings, with the highest sales estimate coming in at $1.19 billion and the lowest estimate coming in at $1.17 billion. Rent-A-Center reported sales of $712.02 million during the same quarter last year, which indicates a positive year-over-year growth rate of 65.7%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, October 27th.

According to Zacks, analysts expect that Rent-A-Center will report full year sales of $4.61 billion for the current fiscal year, with estimates ranging from $4.58 billion to $4.64 billion. For the next fiscal year, analysts anticipate that the company will post sales of $5.20 billion, with estimates ranging from $5.13 billion to $5.29 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Rent-A-Center.

Rent-A-Center (NASDAQ:RCII) last issued its earnings results on Wednesday, August 4th. The company reported $1.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.27. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Rent-A-Center had a return on equity of 46.39% and a net margin of 6.13%. The firm’s revenue for the quarter was up 69.1% compared to the same quarter last year. During the same period last year, the business posted $0.80 EPS.

RCII has been the topic of a number of research reports. Bank of America initiated coverage on shares of Rent-A-Center in a report on Wednesday, August 25th. They issued a “buy” rating and a $85.00 price target on the stock. Zacks Investment Research cut shares of Rent-A-Center from a “strong-buy” rating to a “hold” rating and set a $60.00 target price on the stock. in a report on Tuesday, October 5th. Finally, Janney Montgomery Scott raised shares of Rent-A-Center from a “neutral” rating to a “buy” rating in a report on Thursday, August 12th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $69.00.

A number of large investors have recently made changes to their positions in RCII. Joseph P. Lucia & Associates LLC purchased a new position in Rent-A-Center in the second quarter worth $27,000. Koshinski Asset Management Inc. purchased a new stake in Rent-A-Center during the third quarter valued at about $40,000. First Horizon Advisors Inc. boosted its position in Rent-A-Center by 651.4% during the second quarter. First Horizon Advisors Inc. now owns 789 shares of the company’s stock valued at $41,000 after buying an additional 684 shares during the period. Dark Forest Capital Management LP purchased a new stake in Rent-A-Center during the second quarter valued at about $42,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Rent-A-Center during the first quarter valued at about $59,000. Institutional investors own 77.73% of the company’s stock.

Shares of NASDAQ RCII traded up $1.52 during midday trading on Friday, reaching $53.86. The company’s stock had a trading volume of 20,677 shares, compared to its average volume of 608,483. Rent-A-Center has a 12-month low of $29.95 and a 12-month high of $67.76. The firm has a 50 day moving average price of $60.41 and a 200-day moving average price of $58.24. The stock has a market capitalization of $3.58 billion, a P/E ratio of 14.49 and a beta of 1.57. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.95 and a quick ratio of 0.66.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 19th. Investors of record on Tuesday, September 28th will be given a $0.31 dividend. The ex-dividend date is Monday, September 27th. This represents a $1.24 annualized dividend and a yield of 2.30%. Rent-A-Center’s dividend payout ratio (DPR) is presently 35.13%.

Rent-A-Center Company Profile

Rent-A-Center, Inc engages in the provision of furniture, electronics, appliances, computers, and smartphones through flexible rental purchase agreements. It operates through the following segments: Rent-A-Center Business, Preferred Lease, Mexico, and Franchising. The Rent-A-Center Business segment consists of company-owned rent-to-own stores in the United States and Puerto Rico.

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Earnings History and Estimates for Rent-A-Center (NASDAQ:RCII)

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