Brokerages expect Rent-A-Center, Inc. (NASDAQ:RCII) to post quarterly sales of $1.06 billion
Stock analysts expect Rent-A-Center, Inc. (NASDAQ:RCII – Get Rating) to report sales of $1.06 billion for the current fiscal quarter, Zacks reports. Four analysts provided estimates of Rent-A-Center’s earnings. The highest sales estimate is $1.07 billion and the lowest is $1.06 billion. Rent-A-Center reported sales of $1.19 billion in the same quarter last year, indicating a negative growth rate of 10.9% year over year. The company is due to announce its next quarterly results on Monday, January 1.
According to Zacks, analysts expect Rent-A-Center to post annual sales of $4.51 billion for the current fiscal year, with estimates ranging from $4.47 billion to $4.59 billion. For the next fiscal year, analysts expect the company to post sales of $4.75 billion, with estimates ranging from $4.58 billion to $4.97 billion. Zacks Investment Research sales averages are an average average based on a survey of research analysts who follow Rent-A-Center.
Rent-A-Center (NASDAQ:RCII – Get Rating) last announced its quarterly results on Wednesday, May 4. The company reported earnings per share (EPS) of $0.74 for the quarter, beating the consensus estimate of $0.71 by $0.03. The company posted revenue of $1.13 billion for the quarter, versus $1.11 billion for analysts. Rent-A-Center achieved a net margin of 1.87% and a return on equity of 48.47%. Rent-A-Center’s quarterly revenue increased 9.4% year-over-year. In the same quarter of the previous year, the company had earned earnings per share of $1.32.
Several research analysts have weighed in on the stock. StockNews.com launched coverage on Rent-A-Center stocks in a research report on Thursday, March 31. They issued a “holding” rating on the stock. KeyCorp cut its target price on Rent-A-Center shares from $68.00 to $44.00 and set an “overweight” rating for the company in a Friday, Feb. 25 research note. Zacks Investment Research downgraded Rent-A-Center shares from a ‘strong sell’ rating to a ‘hold’ rating and set a price target of $28.00 for the company in a research note. Monday, May 9. Finally, Raymond James cut Rent-A-Center shares from a “strong buy” rating to an “outperform” rating and lowered his price target for the stock from $65.00 to $40.00 in a research note from Friday, February 25. Two research analysts gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $49.25.
Shares of Rent-A-Center opened at $26.05 on Wednesday. The company has a market capitalization of $1.54 billion, a price-earnings ratio of 20.35 and a beta of 1.54. The company’s 50-day moving average is $25.76 and its 200-day moving average is $35.14. Rent-A-Center has a twelve month minimum of $22.70 and a twelve month maximum of $67.76. The company has a quick ratio of 0.73, a current ratio of 3.25 and a debt ratio of 2.68.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 22. Shareholders of record on Tuesday, April 5 received a dividend of $0.34 per share. This represents an annualized dividend of $1.36 and a yield of 5.22%. The ex-dividend date was Monday, April 4. Rent-A-Center’s payout ratio is 106.25%.
Several institutional investors and hedge funds have recently bought and sold shares of RCII. Ieq Capital LLC acquired a new position in Rent-A-Center during the first quarter worth $50,808,000. Norges Bank bought a new position in Rent-A-Center during the fourth quarter worth approximately $30,545,000. Moors & Cabot Inc. acquired a new equity stake in Rent-A-Center during the third quarter valued at approximately $334,000. Victory Capital Management Inc. increased its position in Rent-A-Center shares by 1,220.7% during the first quarter. Victory Capital Management Inc. now owns 270,330 shares of the company worth $6,520,000 after purchasing an additional 249,861 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC increased its stake in Rent-A-Center by 255.0% in the first quarter. Philadelphia Financial Management of San Francisco LLC now owns 342,345 shares of the company valued at $8,624,000 after acquiring an additional 245,902 shares last quarter. Hedge funds and other institutional investors own 81.66% of the company’s shares.
About Rent-A-Center (Get an assessment)
Rent-A-Center, Inc., together with its subsidiaries, rents household durable goods to customers on a lease-to-own basis. The Company operates in four segments: Rent-A-Center Business, Acima, Mexico and Franchising. It offers furniture and accessories, household appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags and other accessories under lease- purchase.
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