$654.76 Million in Sales Expected for Rent-A-Center Inc. (RCII) This Quarter

Wall Street brokerages predict that Rent-A-Center Inc. (NASDAQ:RCII) will announce $654.76 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Rent-A-Center’s earnings, with the lowest sales estimate coming in at $640.48 million and the highest estimate coming in at $674.71 million. Rent-A-Center posted sales of $693.88 million during the same quarter last year, which suggests a negative year-over-year growth rate of 5.6%. The company is expected to announce its next quarterly earnings results on Wednesday, October 25th.

On average, analysts expect that Rent-A-Center will report full year sales of $654.76 million for the current fiscal year, with estimates ranging from $2.73 billion to $2.77 billion. For the next financial year, analysts forecast that the business will report sales of $2.76 billion per share, with estimates ranging from $2.62 billion to $2.91 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Rent-A-Center.

Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings data on Wednesday, July 26th. The company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.08). Rent-A-Center had a positive return on equity of 3.87% and a negative net margin of 5.57%. The firm had revenue of $667.64 million during the quarter, compared to the consensus estimate of $667.04 million. During the same period in the prior year, the firm posted $0.41 EPS. The firm’s quarterly revenue was down 10.9% on a year-over-year basis.

RCII has been the topic of a number of recent research reports. Loop Capital reiterated a “sell” rating and issued a $8.00 price objective on shares of Rent-A-Center in a research report on Tuesday, July 18th. Jefferies Group LLC restated a “hold” rating and issued a $12.00 price target on shares of Rent-A-Center in a research report on Thursday, September 7th. BidaskClub upgraded Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Stifel Nicolaus restated a “hold” rating and issued a $13.00 price target (up from $11.50) on shares of Rent-A-Center in a research report on Friday, July 28th. Finally, Zacks Investment Research lowered Rent-A-Center from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $11.71.

Rent-A-Center (NASDAQ:RCII) traded down 1.64% during mid-day trading on Thursday, hitting $10.81. The stock had a trading volume of 753,713 shares. The stock has a 50 day moving average of $11.83 and a 200-day moving average of $11.71. Rent-A-Center has a 1-year low of $7.76 and a 1-year high of $13.89. The firm’s market cap is $576.18 million.

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its position in shares of Rent-A-Center by 1.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 24,038 shares of the company’s stock worth $282,000 after purchasing an additional 263 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Rent-A-Center by 1.1% in the 1st quarter. Arizona State Retirement System now owns 27,700 shares of the company’s stock worth $246,000 after purchasing an additional 300 shares during the last quarter. Texas Permanent School Fund boosted its position in shares of Rent-A-Center by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 38,839 shares of the company’s stock worth $455,000 after purchasing an additional 324 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Rent-A-Center by 3.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,550 shares of the company’s stock worth $147,000 after purchasing an additional 440 shares during the last quarter. Finally, B. Riley Financial Inc. boosted its position in shares of Rent-A-Center by 3.1% in the 2nd quarter. B. Riley Financial Inc. now owns 23,206 shares of the company’s stock worth $272,000 after purchasing an additional 706 shares during the last quarter.

COPYRIGHT VIOLATION NOTICE: This story was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this story on another domain, it was illegally copied and reposted in violation of US & international copyright law. The legal version of this story can be read at https://ledgergazette.com/2017/10/12/654-76-million-in-sales-expected-for-rent-a-center-inc-rcii-this-quarter.html.

About Rent-A-Center

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.

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On average, analysts expect that Rent-A-Center will report full year sales of $654.76 million for the current fiscal year, with estimates ranging from $2.73 billion to $2.77 billion. For the next financial year, analysts forecast that the business will report sales of $2.76 billion per share, with estimates ranging from $2.62 billion to $2.91 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Rent-A-Center.

Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings data on Wednesday, July 26th. The company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.08). Rent-A-Center had a positive return on equity of 3.87% and a negative net margin of 5.57%. The firm had revenue of $667.64 million during the quarter, compared to the consensus estimate of $667.04 million. During the same period in the prior year, the firm posted $0.41 EPS. The firm’s quarterly revenue was down 10.9% on a year-over-year basis.

RCII has been the topic of a number of recent research reports. Loop Capital reiterated a “sell” rating and issued a $8.00 price objective on shares of Rent-A-Center in a research report on Tuesday, July 18th. Jefferies Group LLC restated a “hold” rating and issued a $12.00 price target on shares of Rent-A-Center in a research report on Thursday, September 7th. BidaskClub upgraded Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Stifel Nicolaus restated a “hold” rating and issued a $13.00 price target (up from $11.50) on shares of Rent-A-Center in a research report on Friday, July 28th. Finally, Zacks Investment Research lowered Rent-A-Center from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $11.71.

Rent-A-Center (NASDAQ:RCII) traded down 1.64% during mid-day trading on Thursday, hitting $10.81. The stock had a trading volume of 753,713 shares. The stock has a 50 day moving average of $11.83 and a 200-day moving average of $11.71. Rent-A-Center has a 1-year low of $7.76 and a 1-year high of $13.89. The firm’s market cap is $576.18 million.

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its position in shares of Rent-A-Center by 1.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 24,038 shares of the company’s stock worth $282,000 after purchasing an additional 263 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Rent-A-Center by 1.1% in the 1st quarter. Arizona State Retirement System now owns 27,700 shares of the company’s stock worth $246,000 after purchasing an additional 300 shares during the last quarter. Texas Permanent School Fund boosted its position in shares of Rent-A-Center by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 38,839 shares of the company’s stock worth $455,000 after purchasing an additional 324 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Rent-A-Center by 3.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,550 shares of the company’s stock worth $147,000 after purchasing an additional 440 shares during the last quarter. Finally, B. Riley Financial Inc. boosted its position in shares of Rent-A-Center by 3.1% in the 2nd quarter. B. Riley Financial Inc. now owns 23,206 shares of the company’s stock worth $272,000 after purchasing an additional 706 shares during the last quarter.

COPYRIGHT VIOLATION NOTICE: This story was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this story on another domain, it was illegally copied and reposted in violation of US & international copyright law. The legal version of this story can be read at https://ledgergazette.com/2017/10/12/654-76-million-in-sales-expected-for-rent-a-center-inc-rcii-this-quarter.html.

About Rent-A-Center

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.

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Earnings History and Estimates for Rent-A-Center (NASDAQ:RCII)

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