NEW YORK (TheStreet) -- Rent-A-Center (RCII) - Get Report stock is down by 25.64% to $19.17 in mid-morning trading on Tuesday, after the company reported 2015 third quarter revenue short of estimates amid a $34.7 million pre-tax write-down of smartphones.
The rent-to-own retailer reported earnings of 47 cents per share on revenue of $791.6 million for the most recent quarter.
Last year, the company posted earnings of 50 cents per share on revenue of $764.4 million for the 2014 third quarter.
Analysts surveyed by Thomson Reuters had projected earnings of 45 cents per share on revenue of $803.3 million.
Further, Rent-A-Center lowered its full-year earnings guidance to a range between $2 per share and $2.10 per share, down from the prior range between $2.05 and $2.20 per share.
Shares of the company were down by 29% so far this year as of yesterday's close, according to the Wall Street Journal.
Separately, TheStreet Ratings team rates RENT-A-CENTER INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
We rate RENT-A-CENTER INC (RCII) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.
You can view the full analysis from the report here: RCII