Wall Street analysts forecast that Rent-A-Center Inc (NASDAQ:RCII) will report $0.50 earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have made estimates for Rent-A-Center’s earnings. The lowest EPS estimate is $0.47 and the highest is $0.54. Rent-A-Center posted earnings of $0.32 per share in the same quarter last year, which would suggest a positive year over year growth rate of 56.3%. The business is scheduled to announce its next quarterly earnings results on Monday, November 4th.
According to Zacks, analysts expect that Rent-A-Center will report full-year earnings of $2.27 per share for the current financial year, with EPS estimates ranging from $2.23 to $2.31. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.59 per share, with EPS estimates ranging from $2.43 to $2.87. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Rent-A-Center.
Rent-A-Center (NASDAQ:RCII) last released its earnings results on Wednesday, August 7th. The company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The company had revenue of $655.90 million during the quarter, compared to the consensus estimate of $642.86 million. Rent-A-Center had a net margin of 4.40% and a return on equity of 32.63%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.47 EPS.
Shares of RCII traded up $0.26 during midday trading on Friday, hitting $25.98. The company had a trading volume of 475,500 shares, compared to its average volume of 1,208,453. The company’s 50 day moving average price is $25.77 and its 200 day moving average price is $24.46. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 24.51 and a beta of 0.39. Rent-A-Center has a 52 week low of $11.98 and a 52 week high of $28.25. The company has a quick ratio of 1.17, a current ratio of 2.97 and a debt-to-equity ratio of 2.07.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 23rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 20th. This is a positive change from Rent-A-Center’s previous quarterly dividend of $0.08. This represents a $1.00 annualized dividend and a dividend yield of 3.85%. Rent-A-Center’s payout ratio is 94.34%.
Several hedge funds and other institutional investors have recently bought and sold shares of RCII. Vanguard Group Inc. boosted its stake in Rent-A-Center by 9.6% during the 2nd quarter. Vanguard Group Inc. now owns 7,009,175 shares of the company’s stock valued at $186,654,000 after purchasing an additional 615,484 shares during the period. BlackRock Inc. boosted its stake in Rent-A-Center by 1.4% during the 2nd quarter. BlackRock Inc. now owns 6,783,710 shares of the company’s stock valued at $180,651,000 after purchasing an additional 94,487 shares during the period. Renaissance Technologies LLC boosted its stake in Rent-A-Center by 88.2% during the 2nd quarter. Renaissance Technologies LLC now owns 4,123,524 shares of the company’s stock valued at $109,809,000 after purchasing an additional 1,932,000 shares during the period. Morgan Stanley boosted its stake in Rent-A-Center by 98.5% during the 2nd quarter. Morgan Stanley now owns 1,376,219 shares of the company’s stock valued at $36,649,000 after purchasing an additional 682,982 shares during the period. Finally, Nuveen Asset Management LLC acquired a new position in Rent-A-Center during the 2nd quarter valued at about $31,943,000. 95.28% of the stock is owned by institutional investors and hedge funds.
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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