Aaron’s, Inc. (AAN) to Issue Quarterly Dividend of $0.04 on October 4th

Aaron’s, Inc. (NYSE:AAN) declared a quarterly dividend on Thursday, August 8th, Zacks reports. Investors of record on Thursday, September 19th will be given a dividend of 0.035 per share on Friday, October 4th. This represents a $0.14 annualized dividend and a yield of 0.22%. The ex-dividend date is Wednesday, September 18th.

Aaron’s has raised its dividend by an average of 9.3% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Aaron’s has a payout ratio of 4.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Aaron’s to earn $4.48 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 3.1%.

Shares of AAN stock opened at $62.75 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.77 and a quick ratio of 0.63. Aaron’s has a fifty-two week low of $39.28 and a fifty-two week high of $68.44. The stock’s 50-day moving average is $63.32 and its two-hundred day moving average is $58.21. The firm has a market cap of $4.24 billion, a P/E ratio of 18.68, a PEG ratio of 1.06 and a beta of 0.50.

Aaron’s (NYSE:AAN) last issued its earnings results on Thursday, July 25th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.05. Aaron’s had a return on equity of 14.48% and a net margin of 5.20%. The company had revenue of $968.14 million for the quarter, compared to analyst estimates of $966.50 million. During the same period in the prior year, the firm posted $0.84 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts expect that Aaron’s will post 3.94 EPS for the current year.

Several research firms have recently issued reports on AAN. Northcoast Research upped their price target on Aaron’s from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Zacks Investment Research upgraded Aaron’s from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Tuesday, August 20th. Stephens set a $67.00 price target on Aaron’s and gave the stock a “buy” rating in a research note on Wednesday, June 12th. KeyCorp upped their price target on Aaron’s from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Raymond James set a $72.00 target price on Aaron’s and gave the company a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $69.88.

In other Aaron’s news, CFO Steven A. Michaels sold 3,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $61.90, for a total value of $185,700.00. Following the transaction, the chief financial officer now directly owns 54,554 shares in the company, valued at approximately $3,376,892.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas A. Lindsay sold 2,500 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $61.68, for a total value of $154,200.00. Following the completion of the transaction, the insider now owns 46,068 shares in the company, valued at $2,841,474.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,758 shares of company stock valued at $1,349,246. 2.78% of the stock is currently owned by insiders.

About Aaron’s

Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. It operates in three segments: Progressive Leasing, Aaron's Business, and DAMI. The company also engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.

Further Reading: Overbought

Dividend History for Aaron`s (NYSE:AAN)

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