Rent-A-Center Inc. (RCII) to Post Q3 2016 Earnings of $0.12 Per Share, KeyCorp Forecasts
Rent-A-Center Inc. (NASDAQ:RCII) – Research analysts at KeyCorp dropped their Q3 2016 earnings per share (EPS) estimates for Rent-A-Center in a research report issued on Tuesday. KeyCorp analyst B. Thomas now expects that the brokerage will post earnings per share of $0.12 for the quarter, down from their prior forecast of $0.39. KeyCorp also issued estimates for Rent-A-Center’s FY2016 earnings at $1.32 EPS and FY2017 earnings at $1.32 EPS.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Rent-A-Center from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Jefferies Group started coverage on shares of Rent-A-Center in a report on Thursday. They issued a “hold” rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $20.90.
Shares of Rent-A-Center (NASDAQ:RCII) opened at 8.96 on Thursday. The company’s market capitalization is $475.92 million. The company has a 50-day moving average price of $12.27 and a 200 day moving average price of $12.97. Rent-A-Center has a one year low of $8.00 and a one year high of $26.26.
Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings data 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. The firm earned $749.60 million during the quarter, compared to the consensus estimate of $782.12 million. Rent-A-Center had a negative net margin of 27.93% and a positive return on equity of 14.03%. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Monday, October 3rd will be paid a $0.08 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.32 annualized dividend and a yield of 3.57%. Rent-A-Center’s payout ratio is currently -1.93%.
In other Rent-A-Center news, CEO Robert Dale Davis purchased 10,000 shares of the stock in a transaction on Monday, August 1st. The shares were purchased at an average cost of $10.87 per share, for a total transaction of $108,700.00. Following the purchase, the chief executive officer now owns 131,850 shares of the company’s stock, valued at $1,433,209.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of RCII. Thompson Siegel & Walmsley LLC raised its stake in shares of 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 valued at $14,963,000 after buying an additional 533,388 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of 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 valued at $176,000 after buying an additional 2,588 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Rent-A-Center by 32.7% in the first quarter. BlackRock Fund Advisors now owns 3,318,496 shares of the company’s stock valued at $52,598,000 after buying an additional 817,206 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Rent-A-Center by 87.5% in the first quarter. Renaissance Technologies LLC now owns 808,210 shares of the company’s stock valued at $12,810,000 after buying an additional 377,200 shares during the last quarter. Finally, Hancock Holding Co. acquired a new stake in shares of Rent-A-Center during the first quarter valued at about $761,000. Hedge funds and other institutional investors own 9.58% of the company’s stock.
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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