Rent-A-Center (NASDAQ:RCII) issued its earnings results on Monday. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.04, Briefing.com reports. The company had revenue of $645.00 million for the quarter, compared to analysts’ expectations of $636.43 million. Rent-A-Center had a net margin of 0.61% and a negative return on equity of 3.42%. Rent-A-Center’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.15) EPS.
Shares of RCII opened at $14.16 on Tuesday. Rent-A-Center has a 52 week low of $7.22 and a 52 week high of $14.94. The stock has a market capitalization of $758.20 million, a P/E ratio of -26.22 and a beta of 0.60. The company has a current ratio of 2.60, a quick ratio of 0.67 and a debt-to-equity ratio of 2.15.
A number of equities research analysts have recently issued reports on the stock. BidaskClub cut shares of Rent-A-Center from a “sell” rating to a “strong sell” rating in a report on Saturday, September 22nd. TheStreet raised shares of Rent-A-Center from a “d+” rating to a “c-” rating in a report on Monday, July 9th. ValuEngine raised shares of Rent-A-Center from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Finally, Loop Capital reaffirmed a “sell” rating and issued a $15.00 target price on shares of Rent-A-Center in a report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Rent-A-Center currently has a consensus rating of “Hold” and an average price target of $11.80.
In related news, insider Engaged Capital Llc sold 4,450,000 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $14.67, for a total value of $65,281,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.88% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Mint Tower Capital Management B.V. acquired a new position in Rent-A-Center in the 2nd quarter valued at about $147,000. Cubist Systematic Strategies LLC acquired a new position in Rent-A-Center in the 1st quarter valued at about $148,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Rent-A-Center in the 2nd quarter valued at about $166,000. Equitec Specialists LLC acquired a new position in Rent-A-Center in the 3rd quarter valued at about $198,000. Finally, Gabelli Funds LLC acquired a new position in Rent-A-Center in the 2nd quarter valued at about $256,000. Institutional investors and hedge funds own 94.18% of the company’s stock.
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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; and furniture, including accessories under rental purchase agreements.
Further Reading: Retained Earnings
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