Rent-A-Center Inc. (RCII) Debt Trading 1% Lower
An issue of Rent-A-Center Inc. (NASDAQ:RCII) bonds fell 1% as a percentage of their face value during trading on Tuesday. The debt issue has a 4.75% coupon and is set to mature on May 1, 2021. The debt is now trading at $83.75 and was trading at $84.00 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.
Separately, Zacks Investment Research downgraded shares of Rent-A-Center from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $22.72.
Shares of Rent-A-Center Inc. (NASDAQ:RCII) opened at 12.63 on Wednesday. The company’s market cap is $670.86 million. The stock’s 50 day moving average is $12.58 and its 200 day moving average is $13.13. Rent-A-Center Inc. has a 52-week low of $9.76 and a 52-week high of $26.26.
Rent-A-Center (NASDAQ:RCII) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.08. Rent-A-Center had a positive return on equity of 14.03% and a negative net margin of 27.93%. The business earned $749.60 million during the quarter, compared to analyst estimates of $782.12 million. During the same quarter last year, the company posted $0.50 EPS. Rent-A-Center’s quarterly revenue was down 8.1% compared to the same quarter last year. Equities analysts forecast that Rent-A-Center Inc. will post $1.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Monday, October 3rd will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.32 annualized dividend and a yield of 2.53%. Rent-A-Center’s dividend payout ratio (DPR) is presently -1.93%.
In other Rent-A-Center news, CEO Robert Dale Davis purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were bought at an average price 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. BlackRock Advisors LLC increased its position in shares of Rent-A-Center by 1.3% in the second quarter. BlackRock Advisors LLC now owns 25,246 shares of the company’s stock valued at $310,000 after buying an additional 329 shares during the period. Arizona State Retirement System increased its position in shares of Rent-A-Center by 1.5% in the second quarter. Arizona State Retirement System now owns 27,600 shares of the company’s stock valued at $339,000 after buying an additional 400 shares during the period. New Amsterdam Partners LLC NY increased its position in shares of Rent-A-Center by 0.8% in the second quarter. New Amsterdam Partners LLC NY now owns 87,279 shares of the company’s stock valued at $1,072,000 after buying an additional 675 shares during the period. Profund Advisors LLC increased its position in shares of Rent-A-Center by 6.1% in the second quarter. Profund Advisors LLC now owns 17,376 shares of the company’s stock valued at $213,000 after buying an additional 998 shares during the period. Finally, Wedge Capital Management L L P NC increased its position in shares of Rent-A-Center by 7.0% in the second quarter. Wedge Capital Management L L P NC now owns 17,922 shares of the company’s stock valued at $220,000 after buying an additional 1,167 shares during the period. Institutional investors own 98.58% of the company’s stock.
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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