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Rent-A-Center Inc Announces Quarterly Dividend of $0.29 (NASDAQ:RCII)

Posted on Tuesday, June 30th, 2020 by MarketBeat

Rent-A-Center Inc (NASDAQ:RCII) announced a quarterly dividend on Monday, June 29th, Zacks reports. Investors of record on Friday, July 10th will be paid a dividend of 0.29 per share on Tuesday, July 28th. This represents a $1.16 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Thursday, July 9th.

Rent-A-Center has a payout ratio of 52.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rent-A-Center to earn $2.57 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 45.1%.

Shares of RCII opened at $27.13 on Tuesday. The business's 50 day moving average is $25.47 and its 200 day moving average is $23.83. The company has a market capitalization of $1.40 billion, a PE ratio of 7.03 and a beta of 1.54. Rent-A-Center has a 12-month low of $11.69 and a 12-month high of $31.14. The company has a current ratio of 3.25, a quick ratio of 0.93 and a debt-to-equity ratio of 1.33.

Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.09. The business had revenue of $701.90 million during the quarter, compared to analysts' expectations of $699.23 million. Rent-A-Center had a return on equity of 29.64% and a net margin of 8.10%. The firm's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. Equities research analysts predict that Rent-A-Center will post 2.22 earnings per share for the current year.

In other Rent-A-Center news, Director Jeffrey J. Brown acquired 20,000 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average price of $23.01 per share, for a total transaction of $460,200.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at $460,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher B. Hetrick bought 8,725 shares of the firm's stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $23.80 per share, with a total value of $207,655.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $119,000. The disclosure for this purchase can be found here. 0.80% of the stock is owned by insiders.

Several equities analysts have weighed in on RCII shares. BidaskClub cut Rent-A-Center from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Raymond James cut their price target on Rent-A-Center from $31.00 to $28.00 and set a "strong-buy" rating for the company in a report on Friday, May 8th. Stifel Nicolaus lifted their target price on Rent-A-Center from $19.00 to $29.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Stephens upgraded Rent-A-Center from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $23.00 to $33.00 in a report on Thursday, May 14th. Finally, Loop Capital lifted their target price on Rent-A-Center from $27.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Rent-A-Center presently has a consensus rating of "Buy" and a consensus target price of $29.75.

Rent-A-Center Company Profile

Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; wheels and tires; and furniture, including accessories under rental purchase agreements.

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Dividend History for Rent-A-Center (NASDAQ:RCII)

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