Rent-A-Center, Inc. (NASDAQ:RCII) is expected to report earnings of $0.71 per share
Analysts expect Rent-A-Center, Inc. (NASDAQ:RCII – Get Rating) to post earnings per share of $0.71 for the current fiscal quarter, according to Zacks. Four analysts provided earnings estimates for Rent-A-Center, with the highest EPS estimate being $0.72 and the lowest estimate being $0.70. Rent-A-Center posted earnings of $1.32 per share in the same quarter last year, which would indicate a negative growth rate of 46.2% year over year. The company is due to announce its next earnings report on Wednesday, May 4.
Zacks says analysts expect Rent-A-Center to report annual earnings of $5.19 per share for the current fiscal year, with EPS estimates ranging from $4.56 to $7.58 . For the next fiscal year, analysts expect the company to post earnings of $5.92 per share, with EPS estimates ranging from $5.45 to $6.90. Zacks Investment Research’s earnings per share calculations are an average average based on a survey of research analysts who follow Rent-A-Center.
Rent-A-Center (NASDAQ:RCII – Get Rating) last released its quarterly earnings data on Wednesday, February 23. The company reported EPS of $1.08 for the quarter, missing analyst consensus estimates of $1.58 per ($0.50). The company posted revenue of $1.17 billion in the quarter, versus $1.20 billion expected by analysts. Rent-A-Center had a return on equity of 50.75% and a net margin of 2.94%. The company’s revenue for the quarter increased by 63.5% compared to the same quarter last year. In the same quarter last year, the company earned earnings per share of $1.03.
A number of research companies have recently commented on RCII. Zacks Investment Research downgraded Rent-A-Center from a “hold” rating to a “strong sell” rating and set a price target of $24.00 on the stock. in a Monday, March 7 report. Raymond James downgraded Rent-A-Center from a “strong buy” rating to an “outperform” rating and lowered its target price for the business from $65.00 to $40.00 in a Friday, February 25 report . Finally, KeyCorp lowered its target price on Rent-A-Center from $68.00 to $44.00 and set an “overweight” rating on the stock in a Friday, February 25 report. One research analyst has rated the stock with a sell rating and five have assigned the stock a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $53.00.
Rent-A-Center stock opened Wednesday at $26.67. The stock’s 50-day moving average is $38.19 and its 200-day moving average is $47.73. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 13.34, a growth price-to-earnings ratio of 0.20, and a beta of 1.66. The company has a debt ratio of 3.06, a current ratio of 3.36 and a quick ratio of 0.75. Rent-A-Center has a 12 month minimum of $22.70 and a 12 month maximum of $67.76.
In other Rent-A-Center news, CEO Mitchell E. Fadel acquired 40,000 shares of the company in a transaction on Tuesday, March 1. The shares were purchased at an average cost of $27.08 per share, for a total transaction of $1,083,200.00. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. 1.50% of the shares are held by insiders.
A number of hedge funds have recently bought and sold shares of the company. Texas Permanent School Fund increased its holdings in Rent-A-Center by 0.6% during the third quarter. Texas Permanent School Fund now owns 44,739 shares of the company worth $2,515,000 after purchasing an additional 265 shares in the last quarter. First Hawaiian Bank increased its stake in Rent-A-Center by 2.3% in the third quarter. First Hawaiian Bank now owns 13,723 shares of the company worth $771,000 after buying 304 additional shares in the last quarter. US Bancorp DE increased its stake in Rent-A-Center by 12.8% in the third quarter. US Bancorp DE now owns 2,743 shares of the company worth $155,000 after buying 311 additional shares in the last quarter. Thrivent Financial for Lutherans increased its position in Rent-A-Center shares by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 49,220 shares of the company worth $2,365,000 after acquiring 333 additional shares last quarter. Finally, Voya Investment Management LLC increased its position in Rent-A-Center shares by 1.2% in the 3rd quarter. Voya Investment Management LLC now owns 28,469 shares of the company worth $1,600,000 after acquiring 339 additional shares last quarter. Institutional investors hold 76.20% of the company’s shares.
About Rent-A-Center (Get a rating)
Rent-A-Center, Inc engages in the supply of furniture, electronics, appliances, computers and smartphones through flexible lease-purchase agreements. It operates through the following segments: Rent-A-Center Business, Preferred Lease, Mexico and Franchising. The Rent-A-Center Business segment includes company-owned rent-to-own stores in the United States and Puerto Rico.
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