$699.64 Million in Sales Expected for Rent-A-Center (RCII) This Quarter

Equities analysts predict that Rent-A-Center (NASDAQ:RCII) will report sales of $699.64 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Rent-A-Center’s earnings. The lowest sales estimate is $673.10 million and the highest is $725.80 million. Rent-A-Center reported sales of $741.99 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.7%. The company is expected to announce its next quarterly earnings report after the market closes on Monday, April 30th.

On average, analysts expect that Rent-A-Center will report full-year sales of $2.62 billion for the current year, with estimates ranging from $2.54 billion to $2.67 billion. For the next financial year, analysts forecast that the firm will post sales of $2.71 billion per share, with estimates ranging from $2.56 billion to $2.89 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Rent-A-Center.

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Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.34). The firm had revenue of $638.95 million during the quarter, compared to the consensus estimate of $654.55 million. Rent-A-Center had a net margin of 0.25% and a negative return on equity of 11.30%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.23) earnings per share.

Several research firms have recently weighed in on RCII. BidaskClub cut shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Group restated a “hold” rating and set a $10.00 price objective on shares of Rent-A-Center in a research report on Wednesday, April 11th. Loop Capital upgraded shares of Rent-A-Center from a “sell” rating to a “hold” rating and raised their price objective for the company from $6.00 to $9.00 in a research report on Monday, April 9th. ValuEngine upgraded shares of Rent-A-Center from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 3rd. Finally, Zacks Investment Research cut shares of Rent-A-Center from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 20th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Rent-A-Center currently has a consensus rating of “Hold” and an average price target of $9.20.

Rent-A-Center stock opened at $9.64 on Monday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.53 and a current ratio of 2.77. The firm has a market cap of $514.91, a PE ratio of -17.85 and a beta of 0.74. Rent-A-Center has a fifty-two week low of $7.22 and a fifty-two week high of $13.89.

Institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. raised its position in Rent-A-Center by 23.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 507,473 shares of the company’s stock worth $5,826,000 after purchasing an additional 96,896 shares during the period. Wells Fargo & Company MN raised its position in Rent-A-Center by 43.9% in the 3rd quarter. Wells Fargo & Company MN now owns 69,603 shares of the company’s stock worth $800,000 after purchasing an additional 21,232 shares during the period. Hollencrest Capital Management raised its position in Rent-A-Center by 13.1% in the 4th quarter. Hollencrest Capital Management now owns 77,800 shares of the company’s stock worth $864,000 after purchasing an additional 9,000 shares during the period. Strs Ohio raised its position in Rent-A-Center by 9.2% in the 4th quarter. Strs Ohio now owns 65,100 shares of the company’s stock worth $722,000 after purchasing an additional 5,500 shares during the period. Finally, Lenox Wealth Management Inc. raised its position in Rent-A-Center by 8.7% in the 4th quarter. Lenox Wealth Management Inc. now owns 61,032 shares of the company’s stock worth $677,000 after purchasing an additional 4,869 shares during the period.

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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; 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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