Rent-A-Center (NASDAQ: RCII) on Wednesday updated its earnings guidance for fiscal 2021. The company provided EPS guidance of $ 5,900 to $ 6,400 for the period, compared to the estimate of Thomson Reuters consensus EPS of $ 5.660. The company released a revenue forecast of $ 4.55 billion to $ 4.67 billion, against a consensus revenue estimate of $ 4.56 billion.
Several equity research analysts recently weighed in on the stock. Raymond James raised his price target for Rent-A-Center shares from $ 65.00 to $ 70.00 and gave the company a strong buy rating in a research report on Friday, May 7. Janney Montgomery Scott upgraded Rent-A-Center from a neutral rating to a buying rating in a report released Thursday, August 12. Bank of America began covering Rent-A-Center in a research report on Wednesday, August 25. They set a buy rating and a price target of $ 85.00 on the stock. Ultimately, Zacks investment research downgraded Rent-A-Center from a buy note to a sustain note and set a target price of $ 64.00 for the company. in a research report on Thursday, May 27. One research analyst rated the stock with a conservation rating, six assigned a buy rating, and one gave the company a high buy rating. According to data from MarketBeat.com, the stock currently has an average Buy rating and a consensus target price of $ 69.67.
Rent-A-Center Stock open for $ 63.08 Wednesday. Rent-A-Center has a one-year low of $ 27.83 and a one-year high of $ 67.76. The stock has a fifty-day moving average of $ 57.14 and a 200-day moving average of $ 57.84. The company has a debt ratio of 1.55, a quick ratio of 0.66, and a current ratio of 2.95. The stock has a market cap of $ 4.19 billion, a PE ratio of 17.09 and a beta of 1.56.
Rent-A-Center (NASDAQ: RCII) last released its quarterly profit data on Wednesday, August 4. The company reported earnings per share of $ 1.63 for the quarter, exceeding Thomson Reuters consensus estimate of $ 1.36 by $ 0.27. Rent-A-Center had a net margin of 6.13% and a return on equity of 46.39%. The company posted revenue of $ 1.16 billion for the quarter, against analysts’ expectations of $ 1.13 billion. In the same quarter of the previous year, the company made EPS of $ 0.80. The company’s quarterly revenue increased 69.1% year-over-year. As a group, sell-side analysts predict Rent-A-Center will post 6.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 13. Shareholders of record on Tuesday, June 22 received a dividend of $ 0.31. The ex-dividend date was Monday June 21. This represents an annualized dividend of $ 1.24 and a dividend yield of 1.97%. Rent-A-Center’s dividend payout ratio (DPR) is 35.13%.
In other Rent-A-Center news, CFO Maureen B. Short sold 22,725 shares of the company in a trade that took place on Wednesday, June 9. The shares were sold for an average price of $ 65.01, for a total value of $ 1,477,352.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Additionally, CEO Mitchell E. Fadel sold 27,120 shares of the company in a trade on Wednesday, June 9. The shares were sold at an average price of $ 64.37, for a total trade of $ 1,745,714.40. Disclosure of this sale can be found here. 1.50% of the shares are currently held by insiders of the company.
A hedge fund recently increased its stake in Rent-A-Center stock. Morgan Stanley increased its stake in the shares of Rent-A-Center, Inc. (NASDAQ: RCII) by 22.3% in the 2nd quarter, according to its latest Form 13F filed with the Securities and Exchange Commission. The institutional investor held 436,602 shares of the company after purchasing an additional 79,661 shares during the quarter. Morgan Stanley owned approximately 0.66% of Rent-A-Center valued at $ 23,170,000 at the end of the most recent reporting period. Institutional investors and hedge funds hold 70.84% of the company’s shares.
Rent-A-Center, Inc engages in providing furniture, electronics, appliances, computers and smartphones through flexible rental purchase agreements. It operates through the following segments: Rent-A-Center Business, Preferred Lease, Mexico and Franchise. The Rent-A-Center Business segment consists of company-owned, option-to-buy rental stores in the United States and Puerto Rico.
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