Zacks: Brokerages Expect Rent-A-Center Inc (NASDAQ:RCII) Will Post Quarterly Sales of $628.29 Million

Equities research analysts forecast that Rent-A-Center Inc (NASDAQ:RCII) will report $628.29 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Rent-A-Center’s earnings, with estimates ranging from $614.30 million to $649.68 million. Rent-A-Center reported sales of $644.94 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.6%. The business is expected to announce its next earnings results on Monday, November 4th.

On average, analysts expect that Rent-A-Center will report full-year sales of $2.62 billion for the current fiscal year, with estimates ranging from $2.59 billion to $2.65 billion. For the next year, analysts anticipate that the business will report sales of $2.69 billion, with estimates ranging from $2.59 billion to $2.80 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Rent-A-Center.

Rent-A-Center (NASDAQ:RCII) last posted its earnings results on Wednesday, August 7th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Rent-A-Center had a net margin of 4.40% and a return on equity of 32.63%. The firm had revenue of $655.90 million during the quarter, compared to analyst estimates of $642.86 million. During the same quarter in the prior year, the business posted $0.47 EPS. The business’s revenue was up .0% compared to the same quarter last year.

RCII has been the subject of several recent analyst reports. Stifel Nicolaus set a $28.00 target price on shares of Rent-A-Center and gave the stock a “hold” rating in a research note on Friday, September 6th. Stephens upgraded shares of Rent-A-Center from an “underweight” rating to an “equal” rating and set a $27.00 target price for the company in a research note on Monday, June 24th. Janney Montgomery Scott upgraded shares of Rent-A-Center from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. ValuEngine lowered shares of Rent-A-Center from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub upgraded shares of Rent-A-Center from a “hold” rating to a “buy” rating in a research note on Wednesday, September 25th. One investment 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. The stock presently has a consensus rating of “Buy” and a consensus price target of $24.40.

Shares of NASDAQ RCII traded up $0.37 during trading on Wednesday, hitting $26.74. The stock had a trading volume of 367,300 shares, compared to its average volume of 1,164,209. Rent-A-Center has a 12 month low of $11.98 and a 12 month high of $28.25. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.17. The company has a market capitalization of $1.45 billion, a PE ratio of 25.23 and a beta of 0.42. The firm has a fifty day moving average of $25.83 and a two-hundred day moving average of $25.14.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Monday, September 23rd were issued a $0.25 dividend. This is an increase from Rent-A-Center’s previous quarterly dividend of $0.08. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Friday, September 20th. Rent-A-Center’s payout ratio is 94.34%.

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Rent-A-Center by 126.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,689 shares of the company’s stock worth $45,000 after buying an additional 942 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Rent-A-Center by 74.6% during the second quarter. Meeder Asset Management Inc. now owns 2,275 shares of the company’s stock valued at $60,000 after purchasing an additional 972 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Rent-A-Center during the second quarter valued at about $111,000. First Quadrant L P CA lifted its holdings in Rent-A-Center by 17.6% during the second quarter. First Quadrant L P CA now owns 5,111 shares of the company’s stock valued at $136,000 after purchasing an additional 765 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Rent-A-Center during the second quarter valued at about $136,000. 95.67% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Rent-A-Center (NASDAQ:RCII)

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