Rent-A-Center Inc. (RCII) Bond Prices Rise 1.4%
An issue of Rent-A-Center Inc. (NASDAQ:RCII) debt rose 1.4% against its face value during trading on Thursday. The high-yield debt issue has a 6.625% coupon and will mature on November 15, 2020. The bonds in the issue are now trading at $88.25 and were trading at $96.94 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.
A number of research analysts recently issued reports on the company. Zacks Investment Research lowered Rent-A-Center from a “hold” rating to a “strong sell” rating in a research report on Thursday. Jefferies Group began coverage on Rent-A-Center in a research report on Thursday. They set a “hold” rating and a $10.00 price objective for the company. 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 assigned a strong buy rating to the stock. Rent-A-Center currently has a consensus rating of “Buy” and a consensus target price of $20.90.
Shares of Rent-A-Center Inc. (NASDAQ:RCII) traded down 0.33% during mid-day trading on Friday, hitting $8.93. The stock had a trading volume of 1,488,409 shares. The stock’s market cap is $474.33 million. The firm’s 50-day moving average price is $12.16 and its 200 day moving average price is $12.92. Rent-A-Center Inc. has a 12-month low of $8.00 and a 12-month high of $26.26.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.49 by $0.08. The firm earned $749.60 million during the quarter, compared to analyst estimates 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 company’s revenue was down 8.1% on a year-over-year basis. During the same period last year, the company earned $0.50 EPS. Equities analysts forecast that Rent-A-Center Inc. will post $1.73 EPS for the current fiscal year.
The company also recently declared 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 of this dividend is Thursday, September 29th. This represents a $0.32 annualized dividend and a yield of 3.58%. Rent-A-Center’s dividend payout ratio (DPR) is -1.93%.
In other news, CEO Robert Dale Davis purchased 10,000 shares of the business’s stock in a transaction on Monday, August 1st. The stock was purchased at an average price of $10.87 per share, with a total value of $108,700.00. Following the acquisition, 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 document filed with the SEC, which is accessible through this link. 3.40% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors boosted its position 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 worth $52,598,000 after buying an additional 817,206 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Rent-A-Center by 18.8% in the second quarter. Vanguard Group Inc. now owns 4,597,398 shares of the company’s stock worth $56,456,000 after buying an additional 726,627 shares during the last quarter. AJO LP bought a new position in shares of Rent-A-Center during the second quarter worth about $7,502,000. Canada Pension Plan Investment Board boosted its position in shares of Rent-A-Center by 1,210.1% in the first quarter. Canada Pension Plan Investment Board now owns 660,300 shares of the company’s stock worth $10,466,000 after buying an additional 609,900 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its position 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 worth $14,963,000 after buying an additional 533,388 shares during the last quarter. 9.58% of the stock is owned by institutional investors and hedge funds.
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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