Rent-A-Center Inc (RCII) Expected to Announce Earnings of $0.29 Per Share

Equities research analysts forecast that Rent-A-Center Inc (NASDAQ:RCII) will report earnings of $0.29 per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Rent-A-Center’s earnings, with estimates ranging from $0.11 to $0.38. Rent-A-Center reported earnings of ($0.08) per share in the same quarter last year, which suggests a positive year over year growth rate of 462.5%. The business is scheduled to announce its next earnings results on Monday, April 29th.

According to Zacks, analysts expect that Rent-A-Center will report full year earnings of $1.88 per share for the current fiscal year, with EPS estimates ranging from $1.80 to $1.95. For the next financial year, analysts forecast that the business will report earnings of $2.15 per share, with EPS estimates ranging from $2.15 to $2.16. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Rent-A-Center.

A number of equities research analysts have issued reports on RCII shares. ValuEngine lowered Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. BidaskClub raised Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Wednesday, December 12th. Janney Montgomery Scott raised Rent-A-Center from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 18th. Raymond James raised Rent-A-Center from a “market perform” rating to an “outperform” rating and set a $16.00 price target on the stock in a research report on Wednesday, December 19th. Finally, 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Rent-A-Center currently has an average rating of “Hold” and an average target price of $17.92.

RCII stock traded down $0.25 during mid-day trading on Friday, reaching $20.87. The company had a trading volume of 37,973 shares, compared to its average volume of 2,179,190. The company has a debt-to-equity ratio of 1.88, a current ratio of 2.46 and a quick ratio of 0.67. The firm has a market capitalization of $1.14 billion, a P/E ratio of 19.71 and a beta of 0.27. Rent-A-Center has a fifty-two week low of $8.43 and a fifty-two week high of $22.77.

In other news, CAO Christopher A. Korst sold 9,600 shares of the firm’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $17.39, for a total transaction of $166,944.00. Following the sale, the chief accounting officer now owns 50,964 shares of the company’s stock, valued at approximately $886,263.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Fred E. Herman sold 2,227 shares of the firm’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $17.50, for a total value of $38,972.50. Following the sale, the executive vice president now directly owns 28,506 shares in the company, valued at approximately $498,855. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in RCII. LMR Partners LLP purchased a new position in Rent-A-Center during the 4th quarter worth approximately $31,898,000. Marshall Wace LLP purchased a new position in Rent-A-Center during the 3rd quarter worth approximately $24,671,000. Water Island Capital LLC grew its stake in Rent-A-Center by 252.1% during the 3rd quarter. Water Island Capital LLC now owns 1,999,179 shares of the company’s stock worth $28,748,000 after buying an additional 1,431,438 shares during the last quarter. Millennium Management LLC grew its stake in Rent-A-Center by 2,935.8% during the 4th quarter. Millennium Management LLC now owns 1,385,377 shares of the company’s stock worth $22,429,000 after buying an additional 1,339,742 shares during the last quarter. Finally, Engaged Capital LLC grew its stake in Rent-A-Center by 17.6% during the 4th quarter. Engaged Capital LLC now owns 5,333,609 shares of the company’s stock worth $86,351,000 after buying an additional 800,000 shares during the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.

About Rent-A-Center

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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