Rent-A-Center Inc. (RCII) Lowered to Neutral at Sidoti
Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Rent-A-Center from a hold rating to a strong sell rating in a report on Thursday, October 13th. Jefferies Group initiated coverage on shares of Rent-A-Center in a report on Thursday, October 13th. They set a hold rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $17.72.
Shares of Rent-A-Center (NASDAQ:RCII) traded up 1.61% during mid-day trading on Tuesday, reaching $11.37. 525,009 shares of the company’s stock traded hands. Rent-A-Center has a 12-month low of $8.00 and a 12-month high of $17.58. The company’s market cap is $604.30 million. The firm has a 50-day moving average of $10.80 and a 200 day moving average of $12.15.
Rent-A-Center (NASDAQ:RCII) last announced its earnings results on Wednesday, October 26th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. The company earned $693.90 million during the quarter, compared to the consensus estimate of $701.27 million. Rent-A-Center had a negative net margin of 28.44% and a positive return on equity of 16.57%. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 earnings per share. Equities analysts forecast that Rent-A-Center will post $1.10 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 20th. Stockholders of record on Monday, October 3rd were given a $0.08 dividend. The ex-dividend date was Thursday, September 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.86%. Rent-A-Center’s dividend payout ratio (DPR) is currently -1.95%.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in 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 period. BlackRock Fund Advisors increased its position in Rent-A-Center by 8.5% in the third quarter. BlackRock Fund Advisors now owns 3,711,500 shares of the company’s stock valued at $46,913,000 after buying an additional 291,330 shares during the period. JPMorgan Chase & Co. increased its position in Rent-A-Center by 636.5% in the third quarter. JPMorgan Chase & Co. now owns 1,929,963 shares of the company’s stock valued at $24,394,000 after buying an additional 1,667,921 shares during the period. Pzena Investment Management LLC increased its position in Rent-A-Center by 2.7% in the third quarter. Pzena Investment Management LLC now owns 1,825,479 shares of the company’s stock valued at $23,074,000 after buying an additional 48,071 shares during the period. Finally, Brandes Investment Partners LP increased its position in Rent-A-Center by 2.5% in the third quarter. Brandes Investment Partners LP now owns 1,467,550 shares of the company’s stock valued at $18,550,000 after buying an additional 35,724 shares during the period. Institutional investors own 98.58% of the company’s stock.
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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