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NEW YORK (TheStreet) -- Rent-A-Center (RCII) - Get Free Report stock is falling 16.96% to $21.39 in after-hours trading on Monday after the company lowered its full year earnings guidance to $2 to $2.10 per share, from the previous outlook of $2.05 to $2.20 per share, falling below the average estimate of $2.15 per share.

The rent-to-own retailer also lowered its 2015 fourth quarter earnings outlook to 52 cents to 62 cents per share, from 63 cents to 72 cents per share, while analysts had estimated earnings of 68 cents per share.

Additionally, Rent-A-Center reported earnings of 47 cents per share for the 2015 third quarter, beating estimates of 45 cents per share.

Revenue increased 3.6% year-over-year to $791.6 million for the quarter ended September 30, but missed estimates of $803.25 million.

Same store sales rose 5.2% as a 24.5% increase at Acceptance Now locations offset a 0.2% decline in core U.S. locations.

"The third quarter again reinforces our focus on improving returns on our existing assets, in order to fund higher return growth initiatives," CEO Robert Davis said in a statement. "Improved profitability trends in the core U.S. business including a $40 million reduction of store expenses through the third quarter reflect clear progress on implementing the strategic initiatives."

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

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