Rent-A-Center (NASDAQ:RCII) Hits New 52-Week Low at $20.93

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Rent-A-Center, Inc. (NASDAQ:RCIIGet a rating) hit a new 52-week low during midday trading on Thursday. The stock traded as low as $20.93 and last traded at $20.95, with volume of 18,989 shares changing hands. The stock previously closed at $23.47.

A number of research companies have weighed in on RCII recently. Raymond James downgraded Rent-A-Center from a “strong buy” rating to an “outperform” rating and lowered its target price for the stock from $65.00 to $40.00 in a Friday, February 25 report . KeyCorp cut its price target on Rent-A-Center stock from $68.00 to $44.00 and set an “overweight” rating on the stock in a Friday, Feb. 25 research report. To finish, StockNews.com upgraded Rent-A-Center shares from a “hold” rating to a “buy” rating in a Friday, June 10 research report. Five analysts rated the stock with a buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $56.33.

The company’s 50-day simple moving average is $25.80 and its two-hundred-day simple moving average is $34.31. The company has a market capitalization of $1.22 billion, a price-earnings ratio of 16.45 and a beta of 1.54. The company has a debt ratio of 2.68, a current ratio of 3.25 and a quick ratio of 0.73.

Rent-A-Center (NASDAQ:RCIIGet a rating) last reported results on Wednesday, May 4. The company reported earnings per share of $0.74 for the quarter, beating the consensus estimate of $0.71 by $0.03. The company posted revenue of $1.13 billion for the quarter, versus analyst estimates of $1.11 billion. Rent-A-Center had a return on equity of 48.47% and a net margin of 1.87%. Rent-A-Center’s revenue increased 9.4% compared to the same quarter last year. In the same quarter of the previous year, the company had earned earnings per share of $1.32. On average, analysts expect Rent-A-Center, Inc. to post EPS of 4.6 for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 12. Investors of record on Tuesday, June 21 will receive a dividend of $0.34 per share. This represents a dividend of $1.36 on an annualized basis and a dividend yield of 6.59%. The ex-dividend date is Friday, June 17. Rent-A-Center’s payout ratio is currently 106.25%.

Several hedge funds have recently changed their positions in the company. Ieq Capital LLC acquired a new equity stake in Rent-A-Center in the first quarter worth approximately $50,808,000. Norges Bank acquired a new position in Rent-A-Center during Q4 for a value of approximately $30,545,000. Moors & Cabot Inc. bought a new position in Rent-A-Center in Q3 worth approximately $334,000. Victory Capital Management Inc. increased its position in Rent-A-Center by 1,220.7% in the first quarter. Victory Capital Management Inc. now owns 270,330 shares of the company valued at $6,520,000 after acquiring an additional 249,861 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC increased its stake in Rent-A-Center stock by 255.0% during the first quarter. Philadelphia Financial Management of San Francisco LLC now owns 342,345 shares of the company valued at $8,624,000 after purchasing an additional 245,902 shares during the period. Institutional investors and hedge funds hold 81.66% of the company’s shares.

Rent-A-Center Company Profile (NASDAQ:RCII)

Rent-A-Center, Inc., together with its subsidiaries, rents 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, household appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags and other accessories under lease- purchase.

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