Rent-A-Center Inc. (RCII) Bonds Rise 3% During Trading
An issue of Rent-A-Center Inc. (NASDAQ:RCII) debt rose 3% against its face value during trading on Wednesday. The debt issue has a 6.625% coupon and is set to mature on November 15, 2020. The debt is now trading at $100.00. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
Separately, Zacks Investment Research lowered shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Rent-A-Center currently has a consensus rating of “Buy” and an average price target of $22.72.
Rent-A-Center Inc. (NASDAQ:RCII) opened at 12.50 on Thursday. The company has a 50-day moving average of $12.56 and a 200-day moving average of $13.21. Rent-A-Center Inc. has a 52 week low of $9.76 and a 52 week high of $26.26. The stock’s market cap is $663.95 million.
Rent-A-Center (NASDAQ:RCII) last released its earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.08. The firm earned $749.60 million during the quarter, compared to analysts’ expectations of $782.12 million. Rent-A-Center had a negative net margin of 27.93% and a positive return on equity of 14.03%. Rent-A-Center’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter last year, the company posted $0.50 earnings per share. On average, analysts predict that Rent-A-Center Inc. will post $1.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Monday, October 3rd will be issued a $0.08 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.32 dividend on an annualized basis and a yield of 2.56%. Rent-A-Center’s dividend payout ratio (DPR) is -1.93%.
In other news, CEO Robert Dale Davis bought 10,000 shares of Rent-A-Center stock in a transaction on Monday, August 1st. The shares were bought at an average cost of $10.87 per share, for a total transaction of $108,700.00. Following the acquisition, the chief executive officer now owns 131,850 shares in the company, valued at $1,433,209.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC increased its position in Rent-A-Center by 77.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,218,472 shares of the company’s stock worth $14,963,000 after buying an additional 533,388 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Rent-A-Center by 22.1% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 14,300 shares of the company’s stock worth $176,000 after buying an additional 2,588 shares in the last quarter. BlackRock Fund Advisors increased its position in Rent-A-Center by 32.7% in the first quarter. BlackRock Fund Advisors now owns 3,318,496 shares of the company’s stock worth $52,598,000 after buying an additional 817,206 shares in the last quarter. Renaissance Technologies LLC increased its position in Rent-A-Center by 87.5% in the first quarter. Renaissance Technologies LLC now owns 808,210 shares of the company’s stock worth $12,810,000 after buying an additional 377,200 shares in the last quarter. Finally, Hancock Holding Co. bought a new position in Rent-A-Center during the first quarter worth approximately $761,000. 98.58% of the stock is owned by institutional investors.
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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