Rent the Runway (RENT) Scheduled to Post Quarterly Earnings on Monday

Rent the Runway (NASDAQ:RENTGet Rating) is set to issue its quarterly earnings data after the market closes on Monday, September 12th. Analysts expect the company to announce earnings of ($0.65) per share for the quarter. Rent the Runway has set its FY 2022 guidance at EPS and its Q2 2022 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

Rent the Runway (NASDAQ:RENTGet Rating) last issued its earnings results on Thursday, June 9th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. The firm had revenue of $67.10 million during the quarter, compared to analysts’ expectations of $64.25 million. On average, analysts expect Rent the Runway to post $-3 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Rent the Runway Trading Down 7.6 %

NASDAQ RENT opened at $3.87 on Monday. The stock has a 50-day simple moving average of $4.40 and a two-hundred day simple moving average of $4.95. Rent the Runway has a fifty-two week low of $2.99 and a fifty-two week high of $24.77. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 7.78.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RENT. Piper Sandler began coverage on Rent the Runway in a research note on Friday, July 22nd. They set an “overweight” rating for the company. Wells Fargo & Company reduced their price objective on Rent the Runway from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, June 10th. Morgan Stanley reduced their price objective on Rent the Runway from $22.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, June 10th. KeyCorp started coverage on Rent the Runway in a research report on Wednesday, July 20th. They set a “sector weight” rating on the stock. Finally, Raymond James started coverage on Rent the Runway in a research report on Wednesday, June 29th. They set an “outperform” rating and a $9.00 target price on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.36.

Insider Buying and Selling

In related news, CEO Jennifer Hyman sold 9,383 shares of Rent the Runway stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $4.56, for a total value of $42,786.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 17,744 shares of company stock worth $80,913. Insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On Rent the Runway

Institutional investors have recently bought and sold shares of the company. Verition Fund Management LLC acquired a new position in shares of Rent the Runway during the 2nd quarter worth approximately $50,000. American International Group Inc. boosted its holdings in shares of Rent the Runway by 156.7% during the 2nd quarter. American International Group Inc. now owns 21,868 shares of the company’s stock worth $67,000 after purchasing an additional 13,350 shares during the last quarter. UBS Group AG boosted its holdings in shares of Rent the Runway by 242.3% during the 2nd quarter. UBS Group AG now owns 22,209 shares of the company’s stock worth $68,000 after purchasing an additional 15,720 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Rent the Runway during the 1st quarter worth approximately $75,000. Finally, Rhumbline Advisers boosted its holdings in shares of Rent the Runway by 49.1% during the 1st quarter. Rhumbline Advisers now owns 17,046 shares of the company’s stock worth $117,000 after purchasing an additional 5,617 shares during the last quarter. 78.90% of the stock is currently owned by institutional investors and hedge funds.

Rent the Runway Company Profile

(Get Rating)

Rent the Runway, Inc rents designer wear for women through its stores and online retail. The company offers ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear, ski wear, home goods, evening wear, and kids wear, as well as accessories.

Featured Stories

Earnings History for Rent the Runway (NASDAQ:RENT)

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