Rent-A-Center Inc. (RCII) Updates FY16 Earnings Guidance

Rent-A-Center Inc. (NASDAQ:RCII) issued an update on its FY16 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.65-1.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.02.

Shares of Rent-A-Center Inc. (NASDAQ:RCII) traded down 0.60% during midday trading on Wednesday, hitting $13.26. 1,152,142 shares of the stock were exchanged. Rent-A-Center Inc. has a 12-month low of $9.76 and a 12-month high of $28.00. The firm’s market cap is $703.99 million. The firm has a 50-day moving average price of $12.56 and a 200 day moving average price of $13.29.

Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.08. During the same quarter in the prior year, the company earned $0.50 earnings per share. The business had revenue of $749.60 million for the quarter, compared to the consensus estimate of $782.12 million. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. Analysts predict that Rent-A-Center Inc. will post $2.02 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 21st. Shareholders of record on Tuesday, July 5th were paid a $0.08 dividend. The ex-dividend date was Thursday, June 30th. This represents a $0.32 annualized dividend and a yield of 2.41%.

RCII has been the topic of several recent research reports. Topeka Capital Markets initiated coverage on shares of Rent-A-Center in a research note on Monday, May 23rd. They issued a buy rating and a $27.00 price objective on the stock. Zacks Investment Research raised shares of Rent-A-Center from a hold rating to a buy rating and set a $17.00 price objective on the stock in a research note on Tuesday, April 5th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $28.29.

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.