Rent-A-Center (NASDAQ:RCII) Releases 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.

Shares of RCII stock opened at $24.59 on Tuesday. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 12.30 and a beta of 1.63. The company has a quick ratio of 0.74, a current ratio of 3.36 and a debt-to-equity ratio of 3.06. Rent-A-Center has a fifty-two week low of $22.70 and a fifty-two week high of $67.76. The firm’s 50 day moving average price is $27.74 and its two-hundred day moving average price is $40.40.

Rent-A-Center (NASDAQ:RCIIGet Rating) last announced its quarterly 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 business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. Rent-A-Center had a net margin of 2.94% and a return on equity of 50.75%. The company’s quarterly revenue was up 63.5% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. On average, equities analysts forecast that Rent-A-Center will post 4.72 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Tuesday, April 5th were given a dividend of $0.34 per share. The ex-dividend date was Monday, April 4th. This represents a $1.36 dividend on an annualized basis and a yield of 5.53%. Rent-A-Center’s dividend payout ratio (DPR) is 68.00%.

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

In related news, CEO Mitchell E. Fadel purchased 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The stock was acquired at an average price of $27.08 per share, for a total transaction of $1,083,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Virtu Financial LLC increased its stake in shares of Rent-A-Center by 54.2% in the fourth quarter. Virtu Financial LLC now owns 5,700 shares of the company’s stock worth $274,000 after buying an additional 2,003 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Rent-A-Center during the third quarter valued at $293,000. LPL Financial LLC boosted its holdings in shares of Rent-A-Center by 55.4% during the fourth quarter. LPL Financial LLC now owns 15,307 shares of the company’s stock valued at $735,000 after acquiring an additional 5,460 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Rent-A-Center by 43.0% during the fourth quarter. Advisors Asset Management Inc. now owns 41,120 shares of the company’s stock valued at $1,975,000 after acquiring an additional 12,366 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Rent-A-Center by 3.8% during the fourth quarter. Deutsche Bank AG now owns 47,641 shares of the company’s stock valued at $2,288,000 after acquiring an additional 1,748 shares during the period. Institutional investors and hedge funds own 76.20% of the company’s stock.

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.

Featured Stories

Receive News & Ratings for Rent-A-Center Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rent-A-Center and related companies with MarketBeat.com's FREE daily email newsletter.