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Rent the Runway, Inc. (NASDAQ:RENT - Get Rating) - Equities researchers at Jefferies Financial Group increased their Q3 2023 earnings per share estimates for shares of Rent the Runway in a report released on Monday, September 12th. Jefferies Financial Group analyst A. Helgans now expects that the company will earn ($0.60) per share for the quarter, up from their previous forecast of ($0.75). The consensus estimate for Rent the Runway's current full-year earnings is ($2.65) per share. Jefferies Financial Group also issued estimates for Rent the Runway's Q4 2023 earnings at ($0.52) EPS, FY2023 earnings at ($2.32) EPS, Q1 2024 earnings at ($0.39) EPS, Q2 2024 earnings at ($0.43) EPS, Q3 2024 earnings at ($0.39) EPS, Q4 2024 earnings at ($0.38) EPS and FY2024 earnings at ($1.60) EPS.

Rent the Runway (NASDAQ:RENT - Get Rating) last posted its quarterly earnings data on Monday, September 12th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.12. Rent the Runway had a negative return on equity of 227.75% and a negative net margin of 76.30%.

Several other brokerages have also recently issued reports on RENT. KeyCorp started coverage on Rent the Runway in a report on Wednesday, July 20th. They issued a "sector weight" rating for the company. Wells Fargo & Company reduced their price target on Rent the Runway from $14.00 to $12.00 and set an "overweight" rating on the stock in a research report on Friday, June 10th. Credit Suisse Group downgraded Rent the Runway from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $7.00 to $4.00 in a research note on Tuesday. JMP Securities decreased their price target on Rent the Runway from $12.00 to $6.00 and set a "market outperform" rating on the stock in a research note on Tuesday. Finally, Telsey Advisory Group cut their price target on Rent the Runway from $13.00 to $8.00 and set an "outperform" rating for the company in a report on Tuesday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Rent the Runway currently has an average rating of "Moderate Buy" and a consensus target price of $8.91.Rent the Runway Stock Down 3.3 %

NASDAQ RENT opened at $2.92 on Thursday. The business has a fifty day moving average price of $4.50 and a 200 day moving average price of $4.84. Rent the Runway has a one year low of $2.65 and a one year high of $24.77. The company has a debt-to-equity ratio of 7.78, a quick ratio of 3.13 and a current ratio of 3.13. The company has a market cap of $187.08 million and a P/E ratio of -0.34. Insider Activity

In related news, CEO Jennifer Hyman sold 9,383 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $4.56, for a total transaction of $42,786.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 17,744 shares of company stock valued at $80,913. 10.70% of the stock is owned by company insiders. Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. National Bank of Canada FI purchased a new position in Rent the Runway in the 2nd quarter worth approximately $27,000. New York State Common Retirement Fund bought a new stake in Rent the Runway during the 1st quarter worth approximately $70,000. Quantbot Technologies LP purchased a new stake in Rent the Runway during the 1st quarter valued at approximately $75,000. Advisor Group Holdings Inc. purchased a new position in Rent the Runway during the fourth quarter worth $102,000. Finally, Francis Financial Inc. bought a new stake in shares of Rent the Runway in the second quarter valued at about $60,000. 78.90% of the stock is owned by institutional investors. About Rent the Runway (Get Rating)

Rent the Runway, Inc rents designer wear for women through its stores and online retail. The company offers ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear, ski wear, home goods, evening wear, and kids wear, as well as accessories.Featured ArticlesGet a free copy of the StockNews.com research report on Rent the Runway (RENT)Murphy USA Outperforming Other Mid-caps, But Is It A Buy Now?Has 3M Reached the Point of Being so Bad It’s Good? Is This Medical Gear Maker Ready To Continue Its Rally? The Five (5) Hottest Stocks To Watch Ahead Of Q3 Earnings Has Take-Two Interactive Devolved into a One-Trick Pony?

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