According to a report from Zacks Investment Research, Rent-A-Center Inc. (NASDAQ:$RCII) can expect $652.70 million in sales for the fiscal quarter. The six current forecasts for the company’s earnings range from $639.50 million to $674.71 million.
On a year-over-year comparison, Rent-A-Center reported sales of $693.88 in the corresponding quarter. This suggests a 5.9% negative growth. Earning reports from Rent-A-Center are expected on Wednesday, October 25th.
Rent-A-Center is a rent-to-own company in North America that uses rental-purchase agreements to sell their goods. Their products include furniture, smartphones, computers, electronics, and appliances.
According to the firm, a $652.70 million in sales can be expected for the current financial year. Exact estimates range from $2.73 million to $2.77 billion. Estimates range from $2.61 billion to $2.91 billion with posted sales of $2.76 billion in the next year.
During Friday trading, Rent-A-Center stock opened at $10.80. Their market cap is $575.65 million. They have a 52-week low and a 52-week high of $7.76 and $13.89, respectively. They also have a 50-day moving average of $12.67 and a 200-day moving average of $11.46.
Wednesday, July 26th was the last time the company reported their quarterly earnings. Their EPS was reported at $0.01, which was a far cry from the forecast of $0.08. During the correlating period last year, the EPS was down substantially from $0.41 EPS.
Analysts have also weighed in on the stock;
- Loop Capital, in a research note on Wednesday, June 7th, cut their rating from ‘Hold’ to ‘Sell’.
- Zacks Investment Research, in a research note on Friday, July 28th, upgraded its rating from ‘Sell’ to ‘Hold’.
- Also on July 28th, Stifel Nicolaus restated a ‘Hold’ rating. They also increased their target price from $11.50 to $13.00.
- BidaskClub, on Saturday, August 5th, upgraded their rating from ‘Buy’ to ‘Strong-Buy’.
In total, 5 analysts have assigned ‘Hold’ ratings, 3 issued ‘Buy’ ratings, 2 issued ‘Sell’, and 1 reported a ‘Strong-Buy’ rating, for a consensus of ‘Hold’ and a target price of $11.50.
Multiple investment firms have recently changed their holdings in the company;
- Municipal Employees Retirement System of Michigan bought 440 shares for a total of 12,550 worth $147,000, an increase of 3.6% in the second quarter.
- Texas Permanent School Fund increased their stock by 324 shares, an increase of 0.8% to their total shares of 38,839 valued at approximately $455,000 in the second quarter.
- Arizona State Retirement System increased their stock by 300 shares – or 1.1% – in the first quarter for a total of 27,700 shares worth $246,000.
- Louisiana State Employees Retirement System bought 300 shares, increasing the stock by 1.4% to a total of 21,700 shares worth $192,000 during the last quarter.
- Louisiana State Employees Retirement System bought 300 shares during the last quarter, increasing their holdings by 1.4% for a total of 21,700 shares worth $192,000 in the first quarter.
- Public Employees Retirement System of Ohio bought 263 shares during the last quarter, an increase of 1.1% for a total of 24,038 shares worth a total of $282,000.
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