Equities research analysts expect that Rent-A-Center Inc (NASDAQ:RCII) will post sales of $654.47 million for the current quarter, according to Zacks. Five analysts have issued estimates for Rent-A-Center’s earnings, with the highest sales estimate coming in at $662.29 million and the lowest estimate coming in at $644.50 million. Rent-A-Center reported sales of $638.95 million during the same quarter last year, which indicates a positive year over year growth rate of 2.4%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 19th.
According to Zacks, analysts expect that Rent-A-Center will report full-year sales of $2.65 billion for the current financial year, with estimates ranging from $2.64 billion to $2.66 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.62 billion, with estimates ranging from $2.57 billion to $2.65 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Rent-A-Center.
Rent-A-Center (NASDAQ:RCII) last issued its earnings results on Monday, November 5th. The company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. Rent-A-Center had a return on equity of 6.16% and a net margin of 1.58%. The firm had revenue of $645.00 million for the quarter, compared to analyst estimates of $636.43 million. During the same period last year, the company earned ($0.15) earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis.
Several equities research analysts have weighed in on the company. Raymond James increased their target price on Rent-A-Center from $16.00 to $17.50 and gave the stock an “outperform” rating in a research report on Tuesday, January 8th. Stephens lowered Rent-A-Center from an “equal weight” rating to an “underweight” rating and set a $16.47 target price on the stock. in a research report on Thursday, January 3rd. BidaskClub raised Rent-A-Center from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 27th. Janney Montgomery Scott raised Rent-A-Center from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 18th. Finally, ValuEngine lowered Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Rent-A-Center currently has a consensus rating of “Hold” and a consensus price target of $14.66.
In other news, EVP Catherine M. Skula sold 21,381 shares of the firm’s stock in a transaction on Monday, December 24th. The stock was sold at an average price of $15.08, for a total transaction of $322,425.48. Following the transaction, the executive vice president now directly owns 33,998 shares of the company’s stock, valued at $512,689.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of RCII. BlackRock Inc. increased its holdings in shares of Rent-A-Center by 8.7% during the second quarter. BlackRock Inc. now owns 7,066,882 shares of the company’s stock valued at $104,023,000 after purchasing an additional 566,292 shares during the period. Legal & General Group Plc boosted its stake in Rent-A-Center by 3.8% during the second quarter. Legal & General Group Plc now owns 140,606 shares of the company’s stock valued at $2,069,000 after buying an additional 5,117 shares in the last quarter. Renaissance Technologies LLC bought a new position in Rent-A-Center during the second quarter valued at about $7,456,000. OppenheimerFunds Inc. boosted its stake in Rent-A-Center by 55.1% during the second quarter. OppenheimerFunds Inc. now owns 284,913 shares of the company’s stock valued at $4,193,000 after buying an additional 101,271 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Rent-A-Center by 249.1% during the second quarter. Bank of America Corp DE now owns 216,006 shares of the company’s stock valued at $3,180,000 after buying an additional 154,135 shares in the last quarter. 94.64% of the stock is currently owned by institutional investors.
NASDAQ RCII traded up $0.33 during trading hours on Tuesday, hitting $17.00. The company had a trading volume of 1,225,174 shares, compared to its average volume of 1,924,125. Rent-A-Center has a fifty-two week low of $7.22 and a fifty-two week high of $17.33. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.56 and a quick ratio of 0.66. The firm has a market capitalization of $909.76 million, a PE ratio of -31.48 and a beta of 0.34.
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.
Recommended Story: Stock Symbols, CUSIP and Other Stock Identifiers
Get a free copy of the Zacks research report on Rent-A-Center (RCII)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rent-A-Center Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rent-A-Center and related companies with MarketBeat.com's FREE daily email newsletter.