Jefferies Group LLC reiterated their hold rating on shares of Rent-A-Center Inc. (NASDAQ:RCII) in a report released on Thursday morning. They currently have a $9.00 price objective on the stock, down from their prior price objective of $11.00.
RCII has been the topic of a number of other research reports. Sidoti cut Rent-A-Center from a buy rating to a neutral rating in a report on Tuesday, November 15th. Zacks Investment Research upgraded Rent-A-Center from a sell rating to a hold rating in a report on Monday, October 3rd. Raymond James Financial, Inc. reaffirmed a market perform rating on shares of Rent-A-Center in a research note on Tuesday, December 6th. Loop Capital started coverage on Rent-A-Center in a research note on Tuesday, December 13th. They issued a hold rating and a $11.00 target price on the stock. Finally, Stephens started coverage on Rent-A-Center in a research note on Thursday, January 12th. They issued an equal weight rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Rent-A-Center has an average rating of Hold and an average target price of $17.00.
Shares of Rent-A-Center (NASDAQ:RCII) opened at 8.57 on Thursday. The stock has a 50 day moving average price of $11.00 and a 200-day moving average price of $11.62. The firm’s market capitalization is $455.49 million. Rent-A-Center has a 52 week low of $7.86 and a 52 week high of $16.37.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $693.90 million for the quarter, compared to analysts’ expectations of $701.27 million. Rent-A-Center had a positive return on equity of 16.57% and a negative net margin of 28.44%. The company’s revenue was down 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. Equities analysts anticipate that Rent-A-Center will post $0.90 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 26th. Investors of record on Thursday, January 5th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Tuesday, January 3rd. Rent-A-Center’s payout ratio is currently -1.95%.
Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in Rent-A-Center by 636.5% in the third quarter. JPMorgan Chase & Co. now owns 1,929,963 shares of the company’s stock worth $24,394,000 after buying an additional 1,667,921 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Rent-A-Center by 18.8% in the second quarter. Vanguard Group Inc. now owns 4,597,398 shares of the company’s stock worth $56,456,000 after buying an additional 726,627 shares in the last quarter. Peregrine Capital Management LLC acquired a new position in shares of Rent-A-Center during the third quarter worth $6,079,000. Schwab Charles Investment Management Inc. raised its position in shares of Rent-A-Center by 64.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,009,906 shares of the company’s stock worth $12,402,000 after buying an additional 396,139 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its position in shares of Rent-A-Center by 94.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 644,545 shares of the company’s stock worth $7,915,000 after buying an additional 313,642 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.
Rent-A-Center, Inc is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico and Franchising.