Jefferies Financial Group Weighs in on Rent-A-Center, Inc.’s Q2 2022 Earnings (NASDAQ:RCII)

Rent-A-Center, Inc. (NASDAQ:RCIIGet Rating) – Stock analysts at Jefferies Financial Group cut their Q2 2022 EPS estimates for Rent-A-Center in a research note issued to investors on Thursday, May 5th. Jefferies Financial Group analyst K. Joseph now forecasts that the company will earn $1.03 per share for the quarter, down from their previous forecast of $1.17. Jefferies Financial Group also issued estimates for Rent-A-Center’s Q3 2022 earnings at $1.36 EPS, Q4 2022 earnings at $1.53 EPS, FY2022 earnings at $4.66 EPS, Q1 2023 earnings at $1.53 EPS, Q2 2023 earnings at $1.43 EPS, Q3 2023 earnings at $1.42 EPS, Q4 2023 earnings at $1.50 EPS and FY2023 earnings at $5.88 EPS.

Rent-A-Center (NASDAQ:RCIIGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Rent-A-Center had a net margin of 1.87% and a return on equity of 48.47%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm earned $1.32 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year.

RCII has been the topic of a number of other research reports. Raymond James lowered shares of Rent-A-Center from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $65.00 to $40.00 in a report on Friday, February 25th. KeyCorp dropped their target price on shares of Rent-A-Center from $68.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, February 25th. Zacks Investment Research downgraded shares of Rent-A-Center from a “hold” rating to a “strong sell” rating and set a $24.00 target price for the company. in a research report on Monday, March 7th. Finally, StockNews.com assumed coverage on shares of Rent-A-Center in a research report on Thursday, March 31st. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $48.25.

RCII stock opened at $26.45 on Monday. The stock has a market capitalization of $1.56 billion, a P/E ratio of 20.66 and a beta of 1.55. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.74 and a current ratio of 3.36. Rent-A-Center has a one year low of $22.70 and a one year high of $67.76. The company has a 50 day moving average price of $25.88 and a two-hundred day moving average price of $38.57.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kendall Capital Management lifted its position in Rent-A-Center by 22.4% during the first quarter. Kendall Capital Management now owns 36,465 shares of the company’s stock worth $919,000 after purchasing an additional 6,680 shares during the period. KBC Group NV lifted its holdings in shares of Rent-A-Center by 187.9% in the 1st quarter. KBC Group NV now owns 53,097 shares of the company’s stock worth $1,338,000 after purchasing an additional 34,652 shares in the last quarter. Russell Investments Group Ltd. raised its position in Rent-A-Center by 56.7% in the 1st quarter. Russell Investments Group Ltd. now owns 39,363 shares of the company’s stock valued at $990,000 after buying an additional 14,248 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of Rent-A-Center by 4.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 16,832 shares of the company’s stock valued at $424,000 after purchasing an additional 752 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Rent-A-Center by 1,220.7% in the 1st quarter. Victory Capital Management Inc. now owns 270,330 shares of the company’s stock worth $6,520,000 after acquiring an additional 249,861 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

In other Rent-A-Center news, CEO Mitchell E. Fadel bought 40,000 shares of Rent-A-Center stock in a transaction dated Tuesday, March 1st. The shares were bought at an average price of $27.08 per share, with a total value of $1,083,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.50% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Tuesday, April 5th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend was Monday, April 4th. Rent-A-Center’s payout ratio is presently 106.25%.

Rent-A-Center Company Profile (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 Articles

Earnings History and Estimates for Rent-A-Center (NASDAQ:RCII)

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.