Rent-A-Center Inc. Forecasted to Earn Q1 2017 Earnings of $0.32 Per Share (RCII)
Rent-A-Center Inc. (NASDAQ:RCII) – Investment analysts at Northcoast Research cut their Q1 2017 EPS estimates for Rent-A-Center in a research report issued on Thursday. Northcoast Research analyst N. Mitchell now forecasts that the brokerage will post earnings of $0.32 per share for the quarter, down from their prior estimate of $0.40. Northcoast Research also issued estimates for Rent-A-Center’s Q2 2017 earnings at $0.32 EPS, Q3 2017 earnings at $0.28 EPS and FY2017 earnings at $1.33 EPS.
Several other analysts have also recently commented on the stock. Jefferies Group initiated coverage on shares of Rent-A-Center in a report on Thursday. They set a “hold” rating and a $10.00 price target for the company. Zacks Investment Research upgraded shares of Rent-A-Center from a “sell” rating to a “hold” rating in a research note on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, two have given 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 price target of $20.90.
Rent-A-Center (NASDAQ:RCII) opened at 8.93 on Friday. Rent-A-Center has a 1-year low of $8.00 and a 1-year high of $26.26. The firm’s 50-day moving average is $12.16 and its 200-day moving average is $12.92. The company’s market capitalization is $474.33 million.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.08. Rent-A-Center had a negative net margin of 27.93% and a positive return on equity of 14.03%. The company had revenue of $749.60 million for the quarter, compared to the consensus estimate of $782.12 million. During the same quarter last year, the company earned $0.50 earnings per share. The company’s revenue was down 8.1% compared to the same quarter last year.
Several institutional investors have recently added to or reduced their stakes in the stock. ClariVest Asset Management LLC bought a new position in shares of Rent-A-Center during the second quarter worth about $105,000. KCG Holdings Inc. bought a new position in shares of Rent-A-Center during the second quarter worth about $125,000. Mason Street Advisors LLC bought a new position in shares of Rent-A-Center during the second quarter worth about $127,000. Mackenzie Financial Corp bought a new position in shares of Rent-A-Center during the second quarter worth about $132,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Rent-A-Center during the second quarter worth about $150,000. 9.58% of the stock is currently owned by institutional investors.
In other news, CEO Robert Dale Davis purchased 10,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were bought at an average price of $10.87 per share, with a total value of $108,700.00. Following the completion of the transaction, the chief executive officer now directly owns 131,850 shares in the company, valued at approximately $1,433,209.50. The purchase was disclosed in a filing with the SEC, which is available through this link. 3.40% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Monday, October 3rd will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Thursday, September 29th. Rent-A-Center’s dividend payout ratio is -1.93%.
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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