Rent-A-Center, Inc. (NASDAQ:RCII) Announces $0.34 Quarterly Dividend

Rent-A-Center, Inc. (NASDAQ:RCIIGet Rating) announced a quarterly dividend on Wednesday, September 21st, Zacks reports. Stockholders of record on Tuesday, October 4th will be given a dividend of 0.34 per share on Tuesday, October 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date of this dividend is Monday, October 3rd.

Rent-A-Center has a dividend payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Rent-A-Center to earn $4.64 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 29.3%.

Rent-A-Center Stock Performance

Shares of NASDAQ:RCII opened at $23.82 on Thursday. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 33.55 and a beta of 1.61. Rent-A-Center has a 12 month low of $18.88 and a 12 month high of $63.20. The firm’s 50-day moving average is $26.03 and its 200 day moving average is $25.24. The company has a current ratio of 3.37, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

Rent-A-Center (NASDAQ:RCIIGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.02 by $0.13. Rent-A-Center had a net margin of 1.02% and a return on equity of 46.90%. During the same quarter in the prior year, the business posted $1.63 EPS. Research analysts predict that Rent-A-Center will post 4.2 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on RCII. StockNews.com upgraded shares of Rent-A-Center from a “hold” rating to a “buy” rating in a report on Thursday, September 1st. Stephens downgraded shares of Rent-A-Center from an “overweight” rating to an “equal weight” rating and set a $42.00 price target on the stock. in a report on Wednesday, June 29th. Finally, KeyCorp lowered their price objective on shares of Rent-A-Center from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, August 5th.

Insider Buying and Selling at Rent-A-Center

In other Rent-A-Center news, Director Jeffrey J. Brown purchased 1,223 shares of the stock in a transaction dated Tuesday, July 12th. The stock was purchased at an average price of $20.69 per share, with a total value of $25,303.87. Following the transaction, the director now owns 75,669 shares of the company’s stock, valued at $1,565,591.61. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rent-A-Center

Hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd lifted its position in Rent-A-Center by 234.2% during the first quarter. Point72 Hong Kong Ltd now owns 5,050 shares of the company’s stock valued at $127,000 after acquiring an additional 3,539 shares during the last quarter. Captrust Financial Advisors lifted its position in Rent-A-Center by 53.9% during the first quarter. Captrust Financial Advisors now owns 5,732 shares of the company’s stock valued at $144,000 after acquiring an additional 2,007 shares during the last quarter. Sei Investments Co. lifted its position in Rent-A-Center by 92.0% during the first quarter. Sei Investments Co. now owns 14,411 shares of the company’s stock valued at $363,000 after acquiring an additional 6,905 shares during the last quarter. Hsbc Holdings PLC lifted its position in Rent-A-Center by 56.5% during the first quarter. Hsbc Holdings PLC now owns 19,032 shares of the company’s stock valued at $480,000 after acquiring an additional 6,873 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Rent-A-Center by 60.0% during the second quarter. AQR Capital Management LLC now owns 19,253 shares of the company’s stock valued at $374,000 after acquiring an additional 7,222 shares during the last quarter. Hedge funds and other institutional investors own 83.45% of the company’s stock.

Rent-A-Center Company Profile

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

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

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