Rent-A-Center Inc (NASDAQ:RCII) Expected to Post Earnings of $0.57 Per Share

Wall Street analysts forecast that Rent-A-Center Inc (NASDAQ:RCII) will report earnings of $0.57 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Rent-A-Center’s earnings, with the highest EPS estimate coming in at $0.60 and the lowest estimate coming in at $0.54. Rent-A-Center posted earnings per share of $0.35 during the same quarter last year, which indicates a positive year over year growth rate of 62.9%. The business is expected to issue its next quarterly earnings report on Monday, February 24th.

According to Zacks, analysts expect that Rent-A-Center will report full year earnings of $2.24 per share for the current year, with EPS estimates ranging from $2.20 to $2.27. For the next financial year, analysts anticipate that the business will post earnings of $2.62 per share, with EPS estimates ranging from $2.47 to $2.87. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Rent-A-Center.

Rent-A-Center (NASDAQ:RCII) last posted its quarterly 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 business had revenue of $649.37 million during the quarter, compared to analysts’ expectations of $630.83 million. Rent-A-Center had a return on equity of 31.75% and a net margin of 5.09%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share.

Several research analysts have recently weighed in on the company. ValuEngine cut Rent-A-Center from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. BidaskClub raised Rent-A-Center from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Northcoast Research raised Rent-A-Center from a “neutral” rating to a “buy” rating in a report on Wednesday, November 13th. Janney Montgomery Scott upgraded Rent-A-Center from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Stifel Nicolaus raised Rent-A-Center from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $24.40.

RCII stock traded down $0.08 during mid-day trading on Friday, reaching $25.71. The company’s stock had a trading volume of 387,917 shares, compared to its average volume of 1,101,549. The company has a current ratio of 2.34, a quick ratio of 0.51 and a debt-to-equity ratio of 1.21. The company’s 50 day moving average is $25.31 and its two-hundred day moving average is $25.59. Rent-A-Center has a fifty-two week low of $11.98 and a fifty-two week high of $28.25. The stock has a market cap of $1.42 billion, a PE ratio of 24.24 and a beta of 0.39.

In other news, EVP Catherine M. Skula sold 1,380 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $24.90, for a total value of $34,362.00. Following the completion of the sale, the executive vice president now owns 28,470 shares of the company’s stock, valued at approximately $708,903. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.81% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in Rent-A-Center by 88.2% in the second quarter. Renaissance Technologies LLC now owns 4,123,524 shares of the company’s stock worth $109,809,000 after acquiring an additional 1,932,000 shares during the period. Nuveen Asset Management LLC purchased a new position in Rent-A-Center during the 2nd quarter valued at about $31,943,000. SG Capital Management LLC purchased a new position in Rent-A-Center during the 2nd quarter valued at about $23,107,000. Morgan Stanley grew its position in Rent-A-Center by 98.5% in the 2nd quarter. Morgan Stanley now owns 1,376,219 shares of the company’s stock valued at $36,649,000 after acquiring an additional 682,982 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Rent-A-Center by 9.6% in the 2nd quarter. Vanguard Group Inc. now owns 7,009,175 shares of the company’s stock valued at $186,654,000 after acquiring an additional 615,484 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other 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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