Rent-A-Center (NASDAQ:RCII) Issues Q1 2022 Earnings Guidance

Rent-A-Center (NASDAQ:RCIIGet Rating) issued an update on its first quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.650-$0.800 for the period, compared to the Thomson Reuters consensus estimate of $0.710. The company issued revenue guidance of $1.13 billion-$1.16 billion, compared to the consensus revenue estimate of $1.11 billion.Rent-A-Center also updated its FY 2022 guidance to $4.500-$5.000 EPS.

RCII stock opened at $24.70 on Tuesday. The company has a fifty day moving average price of $29.58 and a 200-day moving average price of $41.69. The company has a market capitalization of $1.46 billion, a P/E ratio of 12.35 and a beta of 1.63. Rent-A-Center has a 52-week low of $22.70 and a 52-week high of $67.76. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.74 and a current ratio of 3.36.

Rent-A-Center (NASDAQ:RCIIGet Rating) last announced its earnings results on Wednesday, February 23rd. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.50). The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.20 billion. Rent-A-Center had a return on equity of 50.75% and a net margin of 2.94%. Rent-A-Center’s quarterly revenue was up 63.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS. As a group, sell-side analysts forecast that Rent-A-Center will post 4.72 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 22nd. Stockholders of record on Tuesday, April 5th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date of this dividend is Monday, April 4th. Rent-A-Center’s dividend payout ratio is currently 68.00%.

A number of research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Rent-A-Center in a report on Thursday, March 31st. They set a hold rating for the company. Zacks Investment Research cut shares of Rent-A-Center from a hold rating to a strong sell rating and set a $24.00 price target on the stock. in a report on Monday, March 7th. KeyCorp cut their price target on shares of Rent-A-Center from $68.00 to $44.00 and set an overweight rating on the stock in a report on Friday, February 25th. Finally, Raymond James lowered shares of Rent-A-Center from a strong-buy rating to an outperform rating and lowered their price objective for the stock from $65.00 to $40.00 in a research report on Friday, February 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $53.00.

In other news, CEO Mitchell E. Fadel bought 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were acquired at an average price of $27.08 per share, with a total value of $1,083,200.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans boosted its stake in shares of Rent-A-Center by 0.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 49,220 shares of the company’s stock valued at $2,365,000 after purchasing an additional 333 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Rent-A-Center by 3.8% in the 4th quarter. Deutsche Bank AG now owns 47,641 shares of the company’s stock valued at $2,288,000 after purchasing an additional 1,748 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Rent-A-Center by 2.3% in the 4th quarter. California State Teachers Retirement System now owns 86,441 shares of the company’s stock valued at $4,153,000 after purchasing an additional 1,977 shares in the last quarter. Virtu Financial LLC boosted its stake in shares of Rent-A-Center by 54.2% in the 4th quarter. Virtu Financial LLC now owns 5,700 shares of the company’s stock valued at $274,000 after purchasing an additional 2,003 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Rent-A-Center by 4.2% in the 4th quarter. Wells Fargo & Company MN now owns 119,376 shares of the company’s stock valued at $5,735,000 after purchasing an additional 4,852 shares in the last quarter. 76.20% of the stock is owned by institutional investors and hedge funds.

About Rent-A-Center (Get Rating)

Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a lease-to-own basis. The company operates in four segments: Rent-A-Center Business, Acima, Mexico, and Franchising. It offers furniture and accessories, appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags, and other accessories under rental purchase agreements.

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