Rent-A-Center Inc (RCII) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.48 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $0.40. The company posted revenue of $835.65 million in the period, compared to analysts expectations of $850.43 million. The company’s revenue was down -4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.
Many Wall Street Analysts have commented on Rent-A-Center Inc. Raymond James Upgraded Rent-A-Center Inc on Mar 15, 2016 to ” Strong Buy”, Price Target of the shares are set at $21.
Rent-A-Center Inc opened for trading at $14.57 and hit $15.4 on the upside on Friday, eventually ending the session at $15.26, with a gain of 5.02% or 0.73 points. The heightened volatility saw the trading volume jump to 10,11,272 shares. Company has a market cap of $810 M.
In a different news, on Feb 8, 2016, Robert Dale Davis (CEO) purchased 10,000 shares at $10.66 per share price. According to the SEC, on Feb 5, 2016, Jeffery M Jackson (director) purchased 955 shares at $10.52 per share price. On Nov 23, 2015, Mark E. Denman (EVP – Acceptance Now) purchased 1,270 shares at $16.84 per share price, according to the Form-4 filing with the securities and exchange commission.
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 and smartphones) furniture and accessories under rental purchase agreements. The Company operates in four segments: Core U.S. Acceptance Now Mexico and Franchising. The Company offers brands such as LG Samsung Sony Toshiba and Vizio home electronics; Whirlpool appliances; Acer Apple Asus Dell Hewlett-Packard Samsung Sony and Toshiba computers and/or tablets; Samsung and HTC smartphones; and Albany Ashley England Klaussner Lane Standard and Welton furniture. Consumer electronic products offered by its stores include high definition televisions and stereos among others; appliances include refrigerators freezers washing machines dryers and ranges; furniture products include dining room living room and bedroom furniture and accessories include lamps and tables.