Wall Street analysts predict that Rent-A-Center Inc (NASDAQ:RCII) will post sales of $641.66 million for the current fiscal quarter, according to Zacks. Six analysts have issued 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 would indicate a negative year-over-year growth rate of 2.1%. The firm is scheduled to issue its next earnings results on Monday, July 29th.
On average, analysts expect that Rent-A-Center will report full year sales of $2.61 billion for the current year, with estimates ranging from $2.60 billion to $2.62 billion. For the next year, analysts forecast that the company will report sales of $2.62 billion, with estimates ranging from $2.54 billion to $2.68 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Rent-A-Center.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings data on Monday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.29. Rent-A-Center had a return on equity of 33.38% and a net margin of 1.34%. The company had revenue of $696.69 million during the quarter, compared to the consensus estimate of $683.62 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The firm’s revenue was down .2% compared to the same quarter last year.
In other Rent-A-Center news, EVP Catherine M. Skula sold 5,000 shares of the stock in a transaction that occurred on 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 approximately $784,600.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.81% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of Rent-A-Center by 0.7% in the 1st quarter. BlackRock Inc. now owns 6,689,223 shares of the company’s stock worth $139,603,000 after purchasing an additional 45,237 shares in the last quarter. Engaged Capital LLC lifted its holdings in shares of Rent-A-Center by 17.6% in the 4th quarter. Engaged Capital LLC now owns 5,333,609 shares of the company’s stock worth $86,351,000 after purchasing an additional 800,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Rent-A-Center by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,956,650 shares of the company’s stock worth $71,277,000 after purchasing an additional 214,868 shares in the last quarter. Water Island Capital LLC lifted its holdings in shares of Rent-A-Center by 22.0% in the 4th quarter. Water Island Capital LLC now owns 2,439,551 shares of the company’s stock worth $39,496,000 after purchasing an additional 440,372 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Rent-A-Center in the 1st quarter worth $45,737,000. Hedge funds and other institutional investors own 95.40% of the company’s stock.
Shares of Rent-A-Center stock traded down $0.14 on Friday, hitting $23.91. The stock had a trading volume of 656,025 shares, compared to its average volume of 1,399,936. Rent-A-Center has a twelve month low of $9.73 and a twelve month high of $26.75. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.55 and a quick ratio of 0.82. The company has a market capitalization of $1.29 billion, a P/E ratio of 22.56 and a beta of 0.42.
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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