Rent-A-Center (NASDAQ:RCII) Shares Down 6.3%

Rent-A-Center Inc (NASDAQ:RCII)’s stock price fell 6.3% during trading on Thursday . The company traded as low as $25.81 and last traded at $25.83, 902,600 shares traded hands during trading. A decline of 22% from the average session volume of 1,156,651 shares. The stock had previously closed at $27.57.

A number of brokerages have recently commented on RCII. Janney Montgomery Scott raised shares of Rent-A-Center from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. BidaskClub raised shares of Rent-A-Center from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Stifel Nicolaus set a $28.00 price objective on shares of Rent-A-Center and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, ValuEngine downgraded shares of Rent-A-Center from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $24.40.

The company has a quick ratio of 1.17, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. The stock’s 50 day moving average price is $25.92 and its 200-day moving average price is $25.22. The stock has a market capitalization of $1.45 billion, a P/E ratio of 24.37 and a beta of 0.42.

Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. Rent-A-Center had a net margin of 4.40% and a return on equity of 32.63%. The firm had revenue of $655.90 million for the quarter, compared to the consensus estimate of $642.86 million. During the same period last year, the firm earned $0.47 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. Analysts anticipate that Rent-A-Center Inc will post 2.27 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Monday, September 23rd were paid a dividend of $0.25 per share. The ex-dividend date was Friday, September 20th. This is an increase from Rent-A-Center’s previous quarterly dividend of $0.08. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.87%. Rent-A-Center’s dividend payout ratio (DPR) is currently 94.34%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its position in Rent-A-Center by 7.8% during the third quarter. Louisiana State Employees Retirement System now owns 18,000 shares of the company’s stock worth $464,000 after acquiring an additional 1,300 shares during the last quarter. Hollencrest Capital Management acquired a new position in Rent-A-Center during the third quarter worth about $232,000. Rhumbline Advisers boosted its position in Rent-A-Center by 6.5% during the third quarter. Rhumbline Advisers now owns 142,933 shares of the company’s stock worth $3,686,000 after acquiring an additional 8,697 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Rent-A-Center during the third quarter worth about $2,130,000. Finally, Alberta Investment Management Corp boosted its position in Rent-A-Center by 28.6% during the third quarter. Alberta Investment Management Corp now owns 60,200 shares of the company’s stock worth $1,553,000 after acquiring an additional 13,400 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

About Rent-A-Center (NASDAQ:RCII)

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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