Rent-A-Center, Inc. (NASDAQ:RCII – Get Rating) declared a quarterly dividend on Wednesday, June 8th, Zacks reports. Shareholders of record on Tuesday, June 21st will be given a dividend of 0.34 per share on Tuesday, July 12th. This represents a $1.36 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend is Friday, June 17th.
Rent-A-Center has a dividend payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Rent-A-Center to earn $5.69 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 23.9%.
Shares of NASDAQ:RCII opened at $26.96 on Thursday. Rent-A-Center has a 1-year low of $22.70 and a 1-year high of $67.76. The company has a debt-to-equity ratio of 2.68, a current ratio of 3.25 and a quick ratio of 0.73. The business has a fifty day moving average price of $25.77 and a 200-day moving average price of $35.08. The company has a market capitalization of $1.59 billion, a PE ratio of 21.06 and a beta of 1.54.
Several institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its position in Rent-A-Center by 22.3% in the second quarter. Morgan Stanley now owns 436,602 shares of the company’s stock worth $23,170,000 after purchasing an additional 79,661 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Rent-A-Center in the third quarter worth about $293,000. LPL Financial LLC boosted its position in Rent-A-Center by 55.4% in the fourth quarter. LPL Financial LLC now owns 15,307 shares of the company’s stock worth $735,000 after purchasing an additional 5,460 shares during the last quarter. Millennium Management LLC boosted its position in Rent-A-Center by 80.4% in the fourth quarter. Millennium Management LLC now owns 388,933 shares of the company’s stock worth $18,684,000 after purchasing an additional 173,391 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Rent-A-Center by 463.1% in the fourth quarter. Marshall Wace LLP now owns 77,702 shares of the company’s stock worth $3,731,000 after purchasing an additional 63,904 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on RCII. Zacks Investment Research upgraded Rent-A-Center from a “strong sell” rating to a “hold” rating and set a $28.00 price target for the company in a report on Monday, May 9th. Raymond James cut Rent-A-Center from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $65.00 to $40.00 in a research report on Friday, February 25th. StockNews.com initiated coverage on Rent-A-Center in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, KeyCorp dropped their price objective on Rent-A-Center from $68.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, February 25th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Rent-A-Center currently has a consensus rating of “Buy” and a consensus price target of $49.25.
About Rent-A-Center (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Rent-A-Center (RCII)
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