Analysts expect Rent-A-Center, Inc. (NASDAQ:RCII) to post earnings per share (EPS) of $1.37 for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Rent-A-Center’s earnings. The lowest EPS estimate is $1.35 and the highest is $1.39. Rent-A-Center posted earnings of $0.80 per share during the same quarter last year, which suggests a positive year over year growth rate of 71.3%. The business is expected to issue its next earnings report after the market closes on Wednesday, August 4th.
On average, analysts expect that Rent-A-Center will report full year earnings of $5.60 per share for the current financial year, with EPS estimates ranging from $5.36 to $5.82. For the next fiscal year, analysts forecast that the firm will post earnings of $6.44 per share, with EPS estimates ranging from $5.90 to $6.64. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Rent-A-Center.
Rent-A-Center (NASDAQ:RCII) last announced its earnings results on Tuesday, May 4th. The company reported $1.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.20. Rent-A-Center had a net margin of 6.39% and a return on equity of 41.79%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $961.23 million.
In other news, EVP Catherine M. Skula sold 2,849 shares of the stock in a transaction dated Wednesday, May 26th. The shares were sold at an average price of $59.85, for a total value of $170,512.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mitchell E. Fadel sold 27,120 shares of the stock in a transaction dated Wednesday, June 9th. The shares were sold at an average price of $64.37, for a total transaction of $1,745,714.40. The disclosure for this sale can be found here. Insiders have sold 52,694 shares of company stock worth $3,393,579 over the last ninety days. Insiders own 0.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of RCII. Norges Bank bought a new position in Rent-A-Center during the fourth quarter worth about $25,783,000. BlackRock Inc. increased its position in Rent-A-Center by 4.6% during the first quarter. BlackRock Inc. now owns 8,089,747 shares of the company’s stock worth $466,454,000 after acquiring an additional 354,346 shares during the period. Kennedy Capital Management Inc. bought a new position in Rent-A-Center during the first quarter worth about $20,107,000. Canada Pension Plan Investment Board bought a new position in Rent-A-Center during the fourth quarter worth about $10,805,000. Finally, Victory Capital Management Inc. increased its position in Rent-A-Center by 95.1% during the first quarter. Victory Capital Management Inc. now owns 302,202 shares of the company’s stock worth $17,425,000 after acquiring an additional 147,273 shares during the period. 74.91% of the stock is currently owned by institutional investors.
RCII traded down $0.76 during trading hours on Thursday, hitting $54.08. 9,318 shares of the company’s stock were exchanged, compared to its average volume of 632,248. Rent-A-Center has a 1-year low of $27.05 and a 1-year high of $66.70. The firm has a 50-day moving average price of $56.65. The company has a market capitalization of $3.59 billion, a PE ratio of 15.45 and a beta of 1.51. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.56 and a current ratio of 2.79.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 13th. Shareholders of record on Tuesday, June 22nd were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.29%. The ex-dividend date was Monday, June 21st. Rent-A-Center’s dividend payout ratio (DPR) is currently 35.13%.
Rent-A-Center Company Profile
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a lease-to-own basis. The company operates in four segments: Rent-A-Center Business, Preferred Lease, Mexico, and Franchising. It offers furniture and accessories, appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags, and other accessories under rental purchase agreements.
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