Wall Street analysts expect Rent-A-Center Inc (NASDAQ:RCII) to report sales of $660.21 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Rent-A-Center’s earnings. The highest sales estimate is $672.25 million and the lowest is $655.50 million. Rent-A-Center posted sales of $661.75 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.2%. The firm is expected to announce its next earnings report on Monday, February 24th.
According to Zacks, analysts expect that Rent-A-Center will report full year sales of $2.66 billion for the current year, with estimates ranging from $2.66 billion to $2.67 billion. For the next financial year, analysts forecast that the business will report sales of $2.74 billion, with estimates ranging from $2.66 billion to $2.84 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Rent-A-Center.
Rent-A-Center (NASDAQ:RCII) last posted its earnings results on Wednesday, November 6th. The company reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.03). The company had revenue of $649.37 million during the quarter, compared to analyst estimates of $630.83 million. Rent-A-Center had a return on equity of 31.75% and a net margin of 5.09%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share.
A number of equities research analysts have issued reports on the stock. Northcoast Research upgraded shares of Rent-A-Center from a “neutral” rating to a “buy” rating in a report on Wednesday, November 13th. Stifel Nicolaus raised Rent-A-Center from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, November 12th. Janney Montgomery Scott upgraded Rent-A-Center from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th. BidaskClub raised Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Finally, ValuEngine cut Rent-A-Center from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $24.40.
NASDAQ:RCII traded down $0.08 during midday trading on Friday, reaching $25.71. The stock had a trading volume of 387,917 shares, compared to its average volume of 1,101,549. The stock has a market capitalization of $1.42 billion, a P/E ratio of 24.24 and a beta of 0.39. Rent-A-Center has a 1-year low of $11.98 and a 1-year high of $28.25. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.34 and a quick ratio of 0.51. The firm’s fifty day simple moving average is $25.31 and its 200-day simple moving average is $25.59.
In other news, EVP Catherine M. Skula sold 1,380 shares of Rent-A-Center stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $24.90, for a total transaction of $34,362.00. Following the sale, the executive vice president now owns 28,470 shares of the company’s stock, valued at approximately $708,903. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in RCII. Usca Ria LLC acquired a new position in Rent-A-Center in the third quarter valued at about $31,000. Tower Research Capital LLC TRC raised its stake in shares of Rent-A-Center by 126.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,689 shares of the company’s stock valued at $45,000 after acquiring an additional 942 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of Rent-A-Center by 74.6% in the second quarter. Meeder Asset Management Inc. now owns 2,275 shares of the company’s stock valued at $60,000 after acquiring an additional 972 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Rent-A-Center in the second quarter valued at approximately $111,000. Finally, First Quadrant L P CA boosted its holdings in shares of Rent-A-Center by 17.6% in the 2nd quarter. First Quadrant L P CA now owns 5,111 shares of the company’s stock worth $136,000 after acquiring an additional 765 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.
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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