Rent-A-Center Inc. (NASDAQ:RCII) – Stock analysts at Jefferies Group reduced their Q4 2017 earnings estimates for shares of Rent-A-Center in a research note issued on Friday. Jefferies Group analyst K. Joseph now expects that the company will earn $0.08 per share for the quarter, down from their prior estimate of $0.14. Jefferies Group has a “Hold” rating and a $9.00 price objective on the stock.
Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings results on Wednesday, July 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.08. Rent-A-Center had a negative return on equity of 43.47% and a negative net margin of 5.57%. The business had revenue of $667.64 million during the quarter, compared to the consensus estimate of $667.04 million. During the same quarter last year, the company earned $0.41 earnings per share. The firm’s revenue was down 10.9% compared to the same quarter last year.
Several other research firms have also weighed in on RCII. Zacks Investment Research raised Rent-A-Center from a “sell” rating to a “hold” rating in a research report on Friday. Stifel Nicolaus reissued a “hold” rating and issued a $13.00 price objective (up from $11.50) on shares of Rent-A-Center in a research report on Friday. Loop Capital lowered Rent-A-Center from a “hold” rating to a “sell” rating and set a $8.00 price objective for the company. in a research report on Wednesday, June 7th. BidaskClub raised Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Finally, Raymond James Financial, Inc. raised Rent-A-Center from a “market perform” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, April 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Rent-A-Center currently has an average rating of “Hold” and an average price target of $11.00.
Shares of Rent-A-Center (NASDAQ RCII) traded up 2.72% during midday trading on Monday, hitting $13.58. The company’s stock had a trading volume of 506,347 shares. Rent-A-Center has a 1-year low of $7.76 and a 1-year high of $13.67. The company’s market cap is $723.69 million. The company has a 50-day moving average price of $12.08 and a 200 day moving average price of $10.46.
Hedge funds have recently modified their holdings of the stock. Mason Street Advisors LLC raised its stake in shares of Rent-A-Center by 7.1% in the first quarter. Mason Street Advisors LLC now owns 12,439 shares of the company’s stock worth $110,000 after buying an additional 825 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Rent-A-Center by 77.1% in the second quarter. State of Alaska Department of Revenue now owns 10,448 shares of the company’s stock worth $122,000 after buying an additional 4,548 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Rent-A-Center during the first quarter worth approximately $130,000. Wedbush Securities Inc. purchased a new stake in shares of Rent-A-Center during the first quarter worth approximately $146,000. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of Rent-A-Center by 3.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 12,550 shares of the company’s stock worth $147,000 after buying an additional 440 shares during the last quarter.
In other news, Director Steven L. Pepper bought 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was acquired at an average cost of $10.93 per share, with a total value of $491,850.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Mark E. Speese bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was purchased at an average cost of $11.70 per share, with a total value of $1,170,000.00. Following the completion of the transaction, the chairman now directly owns 844,627 shares in the company, valued at $9,882,135.90. The disclosure for this purchase can be found here. Insiders own 3.40% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Monday, July 3rd were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, June 29th.
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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