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July 11, 2014
11:19 EDTRCII, CONN, AANRent-A-Center plummets after Q2 profit warning
Shares of rent-to-own operator Rent-A-Center (RCII) are sinking after the company’s second quarter profit outlook significantly trailed analysts’ consensus estimates. WHAT'S NEW: Last night, Rent-A-Center forecast Q2 adjusted earnings per share of 36c-38c and revenue of $773M, far short of the consensus views of 48c and $786.4M, respectively. The company’s CEO Robert Davis said, “Macro-economic pressures continue to burden our financially constrained customers contributing to softer than expected demand in our U.S. business segments. Consequently, revenue and earnings for Q2 will not meet expectations. We are not satisfied with our Q2 results and hold ourselves accountable for improving our performance. To that end, we are excited to announce a new product line in our domestic retail stores with our entrance into the burgeoning smartphone business.” WHAT’S NOTABLE: The company’s smartphone rollout offers consumers nationwide one-stop shopping for a variety of name-brand smartphones and no-contract plans, a rent-to-own industry first, the company said. PRICE ACTION: In late morning trading, Rent-A-Center fell $3.22, or about 11%, to $25.86 on more than twice its average daily trading volume. Including today’s pull back, the stock has lost approximately 36% over the past twelve months. OTHERS TO WATCH: Other companies that provide leasing and rent-to-own arrangements of consumer products include Aaron’s (AAN), which is down 3.3%, and CONN’S (CONN), which is down 3.5%.
News For RCII;AAN;CONN From The Last 14 Days
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May 5, 2015
10:04 EDTCONNOn The Fly: Analyst Upgrade Summary
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05:51 EDTCONNConn's upgraded to Outperform from Perform at Oppenheimer
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May 4, 2015
10:00 EDTRCIIOn The Fly: Analyst Upgrade Summary
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06:21 EDTRCIIRent-A-Center upgraded to Outperform from Market Perform at Raymond James
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April 29, 2015
10:08 EDTRCIIHigh option volume stocks
High option volume stocks: IG R CLNE BWLD XPO RCII MDRX EXP OTEX BRFS
April 28, 2015
17:00 EDTRCII, AANOn The Fly: Top stock stories for Tuesday
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15:14 EDTRCII, AANAaron's rejected multiple takeover offers from Rent-A-Center, Reuters says
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14:50 EDTAANAaron's spikes after report it rejected Rent-A-Center buyout offers
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14:39 EDTRCII, AANAaron's rises 4% after Reuters says company turned down Rent-A-Center bids
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14:39 EDTAAN, RCIIAaron's rejected multiple Rent-A-Center buyout offers in last year, Reuters says
April 27, 2015
18:56 EDTRCIIOn The Fly: After Hours Movers
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16:32 EDTRCIIRent-A-Center reports Q1 EPS 52c, consensus 50c
Reports Q1 revenue $877.6M, consensus $863.33M. Reports Q1 SSS up 8%.
15:04 EDTRCIINotable companies reporting after market close
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07:38 EDTAANAaron's price target raised to $45 from $38 at Stifel
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April 24, 2015
07:04 EDTAANAaron's reported total stores at March 31, 2015 was 2,108
At March 31, 2015, the Company had 1,235 Company-operated Aaron's Sales & Lease Ownership stores, 788 franchised Aaron's Sales & Lease Ownership stores, 83 Company-operated HomeSmart stores, and two franchised HomeSmart stores. The total number of stores open at March 31, 2015 was 2,108.
07:03 EDTAANAaron's raises FY15 adjusted EPS to $2.01-$2.21 from $1.90-$2.10
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07:01 EDTAANAaron's reports Q1 non-GAAP EPS 73c, consensus 55c
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April 22, 2015
16:33 EDTCONNPoint72 Asset Management reports 5% passive stake in Conn's

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