Aaron’s (NYSE:AAN) Releases Quarterly Earnings Results

Aaron’s (NYSE:AAN) announced its earnings results on Monday. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.08), Briefing.com reports. Aaron’s had a net margin of 0.13% and a return on equity of 3.59%. The company had revenue of $511.50 million during the quarter, compared to analysts’ expectations of $521.05 million. During the same quarter last year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. Aaron’s updated its FY24 guidance to $0.00-0.25 EPS and its FY 2024 guidance to 0.000-0.250 EPS.

Aaron’s Stock Performance

NYSE AAN opened at $7.28 on Wednesday. Aaron’s has a fifty-two week low of $6.62 and a fifty-two week high of $16.16. The stock has a market cap of $229.25 million, a price-to-earnings ratio of 91.00 and a beta of 1.31. The business has a fifty day moving average of $7.23 and a 200-day moving average of $8.90. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.28.

Aaron’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Friday, June 14th will be issued a $0.125 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.87%. Aaron’s’s dividend payout ratio (DPR) is 625.00%.

Analysts Set New Price Targets

AAN has been the topic of a number of analyst reports. Stifel Nicolaus restated a “hold” rating and issued a $7.00 price target on shares of Aaron’s in a research note on Monday, March 11th. Truist Financial reduced their price objective on Aaron’s from $12.00 to $9.00 and set a “hold” rating for the company in a report on Wednesday, February 28th. TD Cowen initiated coverage on Aaron’s in a report on Friday, March 8th. They set a “market perform” rating and a $7.00 price objective for the company. Finally, StockNews.com raised Aaron’s from a “hold” rating to a “buy” rating in a report on Saturday, April 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.67.

About Aaron’s

Headquartered in Atlanta, The Aaron’s Company, Inc (NYSE: AAN) is a leading, technology-enabled, omnichannel provider of lease-purchase solutions. Aaron’s engages in direct-to-consumer sales and lease ownership of furniture, appliances, consumer electronics and accessories through its approximately 1,300 company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform, Aarons.com.