New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 28, 2014
11:42 EDTRCII, AAN, CONNRent-A-Center plunges after 'most challenging December in years' dings profit
Rent-to-own operator Rent-A-Center (RCII) is one of today's losers after the company's fourth quarter results and fiscal 2014 profit guidance fell significantly below expectations. WHAT'S NEW: Last night, Rent-A-Center reported fourth quarter earnings per share of 25c and revenue of $769.6M, compared to analysts' consensus estimates of 75c and $787.95M, respectively. Same-store sales declined 1.1% for the company in the quarter. The company forecast FY14 EPS of $2.30-$2.50, compared to consensus of $3.20, and revenue growth of 4.5%-7.5%. The company expects same-store sales to be up 3%-5.5% this fiscal year. The company said the large profit miss was mainly attributable to a reduction in gross profit in the Core U.S. segment and an overall increase in operating expenses. “We continue to face meaningful headwinds in our domestic U.S. rent-to-own business, including a customer under severe economic pressure and an intensified promotional environment. These conditions significantly impacted our Core U.S. segment customer agreement growth in December, which was the most challenging in years," said Rent-A-Center CEO Mark Speese. ANALYST REACTION: In a note to investors this morning, research firm Canaccord Genuity maintained a Hold rating on the shares with a $31 price target. The firm said they would remain on the sidelines as the company's core rent-to-own business was struggling and there was no clear catalyst in place to revive it. Canaccord added that the company's 2014 guidance suggests its collections costs are "sky-rocketing." PRICE ACTION: In late morning trading, Rent-A-Center shares tumbled over 19% to $25.12 on nearly seven times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $24.75. Over the past twelve months, the stock has lost approximately 28%. OTHERS TO WATCH: Rent-A-Center's competitors include Aaron's (AAN) and CONN's (CONN). Shares of Aaron's were up 1% in morning trading, while CONN's slipped 0.5%.
News For RCII;AAN;CONN From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 21, 2014
10:00 EDTRCIIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AbbVie (ABBV) downgraded to Neutral from Buy at Guggenheim... BHP Billiton (BHP) downgraded to Hold from Buy at Jefferies... Bank of Marin (BMRC) downgraded to Market Perform from Outperform at Keefe Bruyette... Cobalt (CIE) downgraded to Speculative Buy from Buy at Global Hunter... Consolidated Edison (ED) downgraded to Underweight at Morgan Stanley... Deutsche Post (DPSGY) downgraded to Hold from Buy at Deutsche Bank... HCP (HCP) downgraded to Hold from Buy at Jefferies... IBM (IBM) downgraded to Hold from Buy at Evercore... Inland Real Estate (IRC) downgraded to Underperform from Neutral at BofA/Merrill... PerkinElmer (PKI) downgraded to Neutral from Buy at Janney Capital... Philips (PHG) downgraded to Neutral at UBS... QEP Midstream Partners (QEPM) downgraded to Market Perform at Wells Fargo... Rent-A-Center (RCII) downgraded to Market Perform from Outperform at Raymond James... Rhino Resources (RNO) downgraded to Underperform from Market Perform at Raymond James... Universal Forest (UFPI) downgraded to Neutral from Buy at Sterne Agee.
07:20 EDTRCIIRent-A-Center downgraded to Market Perform from Outperform at Raymond James
Raymond James downgraded Rent-A-Center to Market Perform due to valuation.
October 20, 2014
16:24 EDTRCIIRent-A-Center backs FY14 guidance provided during Q2
Subscribe for More Information
16:23 EDTRCIIRent-A-Center reports Q3 EPS 48c, consensus 47c
Subscribe for More Information
15:30 EDTRCIINotable companies reporting after market close
Subscribe for More Information
10:38 EDTRCIIHigh option volume stocks
Subscribe for More Information
October 13, 2014
14:00 EDTAANCalifornia AG announces $28.4M settlement with Aaron's
Subscribe for More Information
October 8, 2014
12:00 EDTAANShapiro Capital reports 10.82% passive stake in Aaron's
Subscribe for More Information
10:00 EDTRCIIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADTRAN (ADTN) upgraded to Buy from Neutral at Goldman... Applied Materials (AMAT) upgraded to Outperform from Underperform at CLSA... Bill Barrett (BBG) upgraded to Neutral from Underperform at Macquarie... CNOOC (CEO) upgraded to Buy from Hold at Jefferies... Calamos (CLMS) upgraded to Market Perform from Underperform at Keefe Bruyette... Calix (CALX) upgraded to Buy from Neutral at Goldman... Cimarex Energy (XEC) upgraded to Outperform from Neutral at Macquarie... Cogent (CCOI) upgraded to Outperform from Market Perform at Raymond James... Coty (COTY) upgraded to Neutral from Sell at B. Riley... Dassault Systemes (DASTY) upgraded to Equal Weight from Underweight at Barclays... EOG Resources (EOG) upgraded to Outperform from Neutral at Macquarie... Glu Mobile (GLUU) upgraded to Buy from Hold at Benchmark Co.... Goldcorp (GG) upgraded to Overweight from Neutral at HSBC... Goodrich Petroleum (GDP) upgraded to Neutral from Underperform at Macquarie... Greif (GEF) upgraded at Wells Fargo... PHH Corp. (PHH) upgraded to Outperform from Market Perform at Keefe Bruyette... Parsley Energy (PE) upgraded to Outperform from Neutral at Macquarie... Rent-A-Center (RCII) upgraded to Buy from Neutral at Northcoast... Royal Gold (RGLD) upgraded to Overweight from Underweight at HSBC... Rush Enterprises (RUSHA) upgraded to Strong Buy at Raymond James... Sanchez Energy (SN) upgraded to Outperform from Neutral at Macquarie... Springleaf (LEAF) upgraded to Outperform from Neutral at Macquarie... TC PipeLines (TCP) upgraded to Neutral from Underweight at JPMorgan... Tesco (TSCDY) upgraded to Neutral from Underweight at HSBC... Vocera (VCRA) upgraded to Outperform at FBR Capital.
09:14 EDTRCIIRent-A-Center upgraded to Buy from Neutral at Northcoast
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use