Rent-A-Center Inc (NASDAQ:RCII) announced a quarterly dividend on Monday, June 29th, Zacks reports. Investors of record on Friday, July 10th will be paid a dividend of 0.29 per share on Tuesday, July 28th. This represents a $1.16 annualized dividend and a yield of 4.28%. The ex-dividend date is Thursday, July 9th.
Rent-A-Center has a payout ratio of 52.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Rent-A-Center to earn $2.61 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 44.4%.
Rent-A-Center stock opened at $27.13 on Wednesday. The firm’s 50 day simple moving average is $25.53 and its 200-day simple moving average is $23.83. The company has a market cap of $1.46 billion, a P/E ratio of 7.03 and a beta of 1.55. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.25 and a quick ratio of 0.93. Rent-A-Center has a fifty-two week low of $11.69 and a fifty-two week high of $31.14.
Rent-A-Center (NASDAQ:RCII) last released its earnings results on Wednesday, May 6th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.09. The business had revenue of $701.90 million for the quarter, compared to the consensus estimate of $699.23 million. Rent-A-Center had a net margin of 8.10% and a return on equity of 29.64%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. On average, analysts expect that Rent-A-Center will post 2.26 EPS for the current fiscal year.
Several research analysts have recently weighed in on RCII shares. Loop Capital lifted their target price on shares of Rent-A-Center from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. KeyCorp reaffirmed a “hold” rating on shares of Rent-A-Center in a research report on Wednesday, April 8th. Raymond James lowered their price objective on shares of Rent-A-Center from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research report on Friday, May 8th. BidaskClub downgraded shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Stifel Nicolaus boosted their target price on shares of Rent-A-Center from $19.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Rent-A-Center presently has a consensus rating of “Buy” and an average price target of $29.75.
In other news, Director Christopher B. Hetrick acquired 8,725 shares of Rent-A-Center stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $23.80 per share, for a total transaction of $207,655.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $119,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey J. Brown acquired 20,000 shares of Rent-A-Center stock in a transaction dated Friday, May 8th. The stock was purchased at an average price of $23.01 per share, with a total value of $460,200.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $460,200. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.
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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