Economy

Rent-A-Center to explore options as chairman resigns

Volume is the basic fuel of the market since stocks move up or down in price only when shares are trading hands. Six analysts surveyed by Zacks expected $652 million. Rent-A-Center had a negative net margin of 5.57% and a positive return on equity of 3.87%.

While considering growth estimates of the company, it has next quarter growth estimates of 134.8% whereas during current quarter it has -118.2% estimations over growth, comparing to the estimations of -87% during current year and 610% for next year.

They expect $-0.08 EPS, down 237.5% or $0.19 from last year's $0.11 per share.

Shares of Rent-A-Center (NASDAQ RCII) traded up 5.78% on Monday, reaching $10.07.

Rent-A-Center Inc (NASDAQ:RCII) 52-week high price stands at $13.89 and low price stands at $7.76, its price distance from 52-week high is -27.5% while its distance from 52-week low price is 29.77%. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of worldwide trademark & copyright laws. The original version of this story can be accessed at https://www.dispatchtribunal.com/2017/10/31/rent-a-center-inc-rcii-releases-earnings-results-misses-expectations-by-0-13-eps.html.

Raymond James Financial, Inc. reissued their market perform rating on shares of Rent-A-Center Inc.

Also on Monday, Rent-A-Center reported third-quarter loss of $12.6 million, or 24 cents a share, on revenue of $639.3 million versus a profit of $6.2 million, or 12 cents a share, on revenue of $688.7 million a year ago.

Current levels places Rent-A-Center, Inc.

Engaged Capital LLC, which owns 20.5 percent of Rent-A-Center and has been pushing the board to sell the company, commended the board for "initiating a long overdue" action. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. The average 1 year price target among brokers that have issued a report on the stock in the last year is $11.17.

We applaud the Rent-A-Center directors who have finally realized that evaluating strategic alternatives is the best path forward to maximizing value for all stockholders and expect that the Board will run an objective, expedient and successful process. 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.



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