Q3 2016 EPS Estimates for Rent-A-Center Inc. (RCII) Lowered by Northcoast Research
Rent-A-Center Inc. (NASDAQ:RCII) – Northcoast Research cut their Q3 2016 EPS estimates for Rent-A-Center in a research report issued on Thursday. Northcoast Research analyst N. Mitchell now anticipates that the firm will earn $0.07 per share for the quarter, down from their previous estimate of $0.37. Northcoast Research also issued estimates for Rent-A-Center’s Q4 2016 earnings at $0.31 EPS, FY2016 earnings at $1.26 EPS and Q4 2017 earnings at $0.41 EPS.
Rent-A-Center (NASDAQ:RCII) last announced 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 positive return on equity of 14.03% and a negative net margin of 27.93%. The company had revenue of $749.60 million for the quarter, compared to analysts’ expectations of $782.12 million. During the same quarter in the previous year, the business posted $0.50 EPS. The business’s quarterly revenue was down 8.1% compared to the same quarter last year.
A number of other equities research analysts have also recently weighed in on RCII. Zacks Investment Research cut Rent-A-Center from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Jefferies Group assumed coverage on Rent-A-Center in a report on Thursday, October 13th. They issued a “hold” rating and a $10.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s 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 8.97 on Monday. The company’s 50-day moving average price is $12.06 and its 200-day moving average price is $12.84. The stock’s market cap is $476.45 million. Rent-A-Center has a 12 month low of $8.00 and a 12 month high of $26.26.
Large investors have recently made changes to their positions in the stock. ClariVest Asset Management LLC bought a new stake in shares of Rent-A-Center during the second quarter worth approximately $105,000. KCG Holdings Inc. acquired a new position in shares of Rent-A-Center during the second quarter worth $125,000. Mason Street Advisors LLC acquired a new position in shares of Rent-A-Center during the second quarter worth $127,000. Mackenzie Financial Corp acquired a new position in shares of Rent-A-Center during the second quarter worth $132,000. Finally, Panagora Asset Management Inc. acquired a new position in shares of Rent-A-Center during the second quarter worth $150,000. Hedge funds and other institutional investors own 98.58% of the company’s stock.
In related news, CEO Robert Dale Davis bought 10,000 shares of the stock in a transaction on Monday, August 1st. The shares were purchased 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.40% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, September 29th. Rent-A-Center’s dividend payout ratio (DPR) is presently -1.93%.
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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