Brokers Issue Forecasts for Rent-A-Center Inc.’s Q3 2016 Earnings (RCII)
Rent-A-Center Inc. (NASDAQ:RCII) – Investment analysts at Jefferies Group issued their Q3 2016 earnings per share estimates for Rent-A-Center in a report issued on Thursday. Jefferies Group analyst K. Joseph forecasts that the firm will earn $0.10 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $10.00 target price on the stock. Jefferies Group also issued estimates for Rent-A-Center’s Q4 2016 earnings at $0.34 EPS, FY2016 earnings at $1.33 EPS, Q1 2017 earnings at $0.43 EPS, Q2 2017 earnings at $0.40 EPS, Q3 2017 earnings at $0.23 EPS, Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.44 EPS, Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.25 EPS and FY2018 earnings at $1.51 EPS.
Rent-A-Center (NASDAQ:RCII) last issued its earnings results on Wednesday, July 27th. The company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.08. The company earned $749.60 million during the quarter, compared to the consensus estimate of $782.12 million. Rent-A-Center had a positive return on equity of 14.03% and a negative net margin of 27.93%. Rent-A-Center’s revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share.
Separately, Zacks Investment Research lowered shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Rent-A-Center has an average rating of “Buy” and an average price target of $20.90.
Rent-A-Center (NASDAQ:RCII) opened at 8.93 on Monday. Rent-A-Center has a 52 week low of $8.00 and a 52 week high of $26.26. The firm has a 50-day moving average of $12.16 and a 200-day moving average of $12.92. The company’s market capitalization is $474.33 million.
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 given a dividend of $0.08 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.32 dividend on an annualized basis and a yield of 3.58%. Rent-A-Center’s payout ratio is presently -1.93%.
In other Rent-A-Center news, CEO Robert Dale Davis purchased 10,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 131,850 shares of the company’s stock, valued at approximately $1,433,209.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.40% of the company’s stock.
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 worth $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 worth $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 worth $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 worth $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 worth $220,000 after buying an additional 1,167 shares during the period. 9.58% of the stock is currently owned by institutional investors.
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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