Published On: Thu, Sep 8th, 2016

Rent-A-Center Inc. (RCII) Announces $0.08 Quarterly Dividend

Rent-A-Center Inc. (NASDAQ:RCII) announced a quarterly dividend on Thursday, September 8th. Shareholders of record on Monday, October 3rd will be paid a dividend of 0.08 per share on Thursday, October 20th. This represents a $0.32 annualized dividend and a yield of 2.53%.
In other Rent-A-Center news, CEO Robert Dale Davis bought 10,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were bought at an average price of $10.87 per share, for a total transaction of $108,700.00. Following the transaction, the chief executive officer now owns 131,850 shares of the company’s stock, valued at approximately $1,433,209.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.40% of the company’s stock.
Shares of Rent-A-Center (NASDAQ:RCII) traded up 1.04% during trading on Thursday, reaching $12.66. The company had a trading volume of 356,888 shares. The firm’s 50 day moving average price is $12.39 and its 200 day moving average price is $13.29. Rent-A-Center has a 12 month low of $9.76 and a 12 month high of $27.25. The firm’s market capitalization is $672.45 million.

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Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.08. During the same period in the previous year, the company posted $0.50 earnings per share. The business earned $749.60 million during the quarter, compared to analysts’ expectations of $782.12 million. The firm’s revenue was down 8.1% compared to the same quarter last year. Equities analysts predict that Rent-A-Center will post $1.73 EPS for the current year.
RCII has been the topic of several research reports. Zacks Investment Research downgraded Rent-A-Center from a “hold” rating to a “sell” rating in a research report on Monday, August 1st. Topeka Capital Markets initiated coverage on Rent-A-Center in a research report on Monday, May 23rd. They issued a “buy” rating and a $27.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Rent-A-Center currently has an average rating of “Buy” and a consensus target price of $22.72.
Rent-A-Center Company Profile
Rent-A-Center, Inc is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico and Franchising.

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