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.
Recommended Story: History of the Euro STOXX 50 Index
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Restaurant Stocks That Still Look Tasty As the Economy Reopens
As part of our national response to the Covid-19 pandemic, many Americans considered it their patriotic, if not moral, duty to support the restaurant industry. And while many consumers were intensely focused on their small, local restaurants, the national chains were still open for business during this time.
And the reality is that the national chains are going to be the most adaptable to whatever pace of economic recovery we see. Hopes for a “V” shaped recovery have pretty much gone out the window. The new model suggests a stair-step recovery may be the best-case scenario.
The worst case scenario for the restaurant industry will be one where different regions of the country are subject to rolling lockdowns. In a business with notoriously low margins, an open/close, open/close recovery would be disastrous.
It’s one reason why I’m not sure I would be diving into restaurant stocks right now. But the same was being said of airline stocks and cruise line stocks. And sure enough, discount investors have been trying to invest in these stocks.
But as all 50 states have now re-opened in some fashion, it’s not unlikely that restaurant stocks are drawing attention from investors. We’ve put together this presentation that highlights seven restaurant stocks that you should consider looking at if you want to dive into this sector.
View the "Restaurant Stocks That Still Look Tasty As the Economy Reopens".