NEW YORK (TheStreet) -- Shares of Rent-A-Center (RCII) - Get Report were sliding on heavy trading volume early Thursday afternoon after the company posted weaker-than-anticipated 2016 third quarter results and gave a downbeat full-year view.

After yesterdays' closing bell, the Plano, TX-based rent-to-own retailer reported adjusted earnings of 11 cents per share, missing the FactSet consensus of 18 cents per share.

Revenue declined 12.3% over last year to $693.9 million and fell short of Wall Street's projections of $701.9 million.

Same-store sales fell 8.4% year-over-year. Analysts were forecasting a 9.8% drop, according to FactSet.

For the full year, Rent-A-Center expects adjusted earnings per share between $1.05 and $1.15 on core revenue in the range of $2.07 billion to $2.10 billion. Analysts are looking for earnings of $1.38 per share for 2016.

"Our third quarter operating results were negatively impacted by unexpected capacity-related system outages following the full implementation of our new store information management system within our core U.S. stores," CEO Robert Davis said in a statement.

TheStreet Recommends

Davis added that he is "terribly disappointed" with the results.

By early afternoon Thursday, more than 2.64 million shares of the company had traded vs. the 30-day average of 1.26 million.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "sell" with a ratings score of D.

The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

You can view the full analysis from the report here: RCII

Image placeholder title