Brokerages expect Rent-A-Center Inc (NASDAQ:RCII) to report $641.66 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Rent-A-Center’s earnings, with the lowest sales estimate coming in at $635.30 million and the highest estimate coming in at $651.40 million. Rent-A-Center posted sales of $655.73 million in the same quarter last year, which suggests a negative year over year growth rate of 2.1%. The business is scheduled to report its next earnings report on Monday, July 29th.
On average, analysts expect that Rent-A-Center will report full year sales of $2.61 billion for the current fiscal year, with estimates ranging from $2.60 billion to $2.64 billion. For the next fiscal year, analysts expect that the business will post sales of $2.63 billion, with estimates ranging from $2.54 billion to $2.68 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Rent-A-Center.
Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.29. The business had revenue of $696.69 million during the quarter, compared to analysts’ expectations of $683.62 million. Rent-A-Center had a return on equity of 33.38% and a net margin of 1.34%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) EPS.
A number of research firms have commented on RCII. TheStreet upgraded Rent-A-Center from a “c” rating to a “b-” rating in a research report on Tuesday, May 7th. BidaskClub upgraded Zillow Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. ValuEngine lowered WideOpenWest from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. Stephens set a $120.00 target price on Electronic Arts and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Raymond James reiterated a “buy” rating on shares of West Fraser Timber in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Rent-A-Center currently has an average rating of “Buy” and a consensus target price of $21.80.
In other Rent-A-Center news, EVP Catherine M. Skula sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $24.45, for a total transaction of $122,250.00. Following the transaction, the executive vice president now directly owns 32,090 shares in the company, valued at $784,600.50. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.81% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of Rent-A-Center by 2.1% during the 4th quarter. BlackRock Inc. now owns 6,643,986 shares of the company’s stock valued at $107,566,000 after acquiring an additional 139,757 shares during the last quarter. Millennium Management LLC increased its position in shares of Rent-A-Center by 2,935.8% in the 4th quarter. Millennium Management LLC now owns 1,385,377 shares of the company’s stock valued at $22,429,000 after buying an additional 1,339,742 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Rent-A-Center by 191.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 876,742 shares of the company’s stock valued at $14,194,000 after buying an additional 575,452 shares in the last quarter. SG Capital Management LLC bought a new stake in shares of Rent-A-Center in the 2nd quarter valued at $23,107,000. Finally, Geode Capital Management LLC increased its position in shares of Rent-A-Center by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 592,450 shares of the company’s stock valued at $9,591,000 after buying an additional 46,757 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.
Shares of NASDAQ:RCII traded up $0.33 during trading on Wednesday, reaching $26.38. The company had a trading volume of 1,075,200 shares, compared to its average volume of 1,339,609. The firm’s fifty day moving average price is $25.84. Rent-A-Center has a fifty-two week low of $11.98 and a fifty-two week high of $28.25. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 24.89 and a beta of 0.48. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.55 and a quick ratio of 0.82.
Rent-A-Center Company Profile
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; wheels and tires; and furniture, including accessories under rental purchase agreements.
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