$635.01 Million in Sales Expected for Rent-A-Center Inc (RCII) This Quarter
Brokerages expect Rent-A-Center Inc (NASDAQ:RCII) to announce sales of $635.01 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Rent-A-Center’s earnings, with the lowest sales estimate coming in at $600.80 million and the highest estimate coming in at $649.75 million. Rent-A-Center posted sales of $643.97 million in the same quarter last year, which would indicate a negative year over year growth rate of 1.4%. The company is scheduled to report its next quarterly earnings report on Monday, October 29th.
According to Zacks, analysts expect that Rent-A-Center will report full-year sales of $2.63 billion for the current financial year, with estimates ranging from $2.53 billion to $2.66 billion. For the next fiscal year, analysts expect that the business will report sales of $2.70 billion per share, with estimates ranging from $2.53 billion to $2.96 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Rent-A-Center.
Rent-A-Center (NASDAQ:RCII) last posted its earnings results on Monday, July 30th. The company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.24. Rent-A-Center had a net margin of 0.61% and a negative return on equity of 3.42%. The company had revenue of $655.70 million for the quarter, compared to analyst estimates of $645.49 million. During the same quarter in the prior year, the business posted ($0.01) EPS. The firm’s revenue was down 3.2% compared to the same quarter last year.
In other Rent-A-Center 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.88% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Exane Asset Management bought a new stake in Rent-A-Center in the 2nd quarter worth about $2,617,000. Public Employees Retirement System of Ohio grew its position in Rent-A-Center by 506.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 84,111 shares of the company’s stock worth $1,238,000 after purchasing an additional 70,252 shares in the last quarter. Bank of America Corp DE grew its position in Rent-A-Center by 249.1% in the 2nd quarter. Bank of America Corp DE now owns 216,006 shares of the company’s stock worth $3,180,000 after purchasing an additional 154,135 shares in the last quarter. OppenheimerFunds Inc. grew its position in Rent-A-Center by 55.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 284,913 shares of the company’s stock worth $4,193,000 after purchasing an additional 101,271 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Rent-A-Center in the 2nd quarter worth about $7,456,000. 95.63% of the stock is owned by institutional investors and hedge funds.
Shares of RCII traded down $0.21 on Friday, reaching $14.57. The company’s stock had a trading volume of 1,698,100 shares, compared to its average volume of 1,883,427. The company has a debt-to-equity ratio of 2.15, a current ratio of 2.60 and a quick ratio of 0.67. Rent-A-Center has a twelve month low of $7.22 and a twelve month high of $14.94. The firm has a market capitalization of $791.37 million, a PE ratio of -27.37 and a beta of 0.59.
Rent-A-Center Company Profile
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.
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