Equities analysts expect Rent-A-Center, Inc. (NASDAQ:RCII – Get Rating) to announce sales of $1.06 billion for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Rent-A-Center’s earnings. The highest sales estimate is $1.07 billion and the lowest is $1.06 billion. Rent-A-Center reported sales of $1.19 billion during the same quarter last year, which indicates a negative year over year growth rate of 10.9%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Rent-A-Center will report full year sales of $4.51 billion for the current fiscal year, with estimates ranging from $4.47 billion to $4.59 billion. For the next financial year, analysts forecast that the business will post sales of $4.75 billion, with estimates ranging from $4.58 billion to $4.97 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Rent-A-Center.
Rent-A-Center (NASDAQ:RCII – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Rent-A-Center had a net margin of 1.87% and a return on equity of 48.47%. Rent-A-Center’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 earnings per share.
Several research analysts have weighed in on the stock. StockNews.com initiated coverage on shares of Rent-A-Center in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. KeyCorp cut their target price on shares of Rent-A-Center from $68.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, February 25th. Zacks Investment Research raised shares of Rent-A-Center from a “strong sell” rating to a “hold” rating and set a $28.00 price objective for the company in a research note on Monday, May 9th. Finally, Raymond James cut shares of Rent-A-Center from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $65.00 to $40.00 in a research note on Friday, February 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $49.25.
Shares of Rent-A-Center stock opened at $26.05 on Wednesday. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 20.35 and a beta of 1.54. The company’s 50 day moving average is $25.76 and its 200 day moving average is $35.14. Rent-A-Center has a twelve month low of $22.70 and a twelve month high of $67.76. The company has a quick ratio of 0.73, a current ratio of 3.25 and a debt-to-equity ratio of 2.68.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Tuesday, April 5th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 5.22%. The ex-dividend date was Monday, April 4th. Rent-A-Center’s payout ratio is 106.25%.
Several institutional investors and hedge funds have recently bought and sold shares of RCII. Ieq Capital LLC acquired a new position in Rent-A-Center during the first quarter worth $50,808,000. Norges Bank purchased a new position in Rent-A-Center during the fourth quarter worth about $30,545,000. Moors & Cabot Inc. acquired a new stake in shares of Rent-A-Center during the third quarter worth about $334,000. Victory Capital Management Inc. lifted its position in shares of Rent-A-Center by 1,220.7% during the first quarter. Victory Capital Management Inc. now owns 270,330 shares of the company’s stock worth $6,520,000 after purchasing an additional 249,861 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC raised its holdings in Rent-A-Center by 255.0% in the first quarter. Philadelphia Financial Management of San Francisco LLC now owns 342,345 shares of the company’s stock valued at $8,624,000 after acquiring an additional 245,902 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.
About Rent-A-Center (Get Rating)
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a lease-to-own basis. The company operates in four segments: Rent-A-Center Business, Acima, Mexico, and Franchising. It offers furniture and accessories, appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags, and other accessories under rental purchase agreements.
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