Aaron’s (NYSE:AAN) Updates FY 2024 Earnings Guidance

Aaron’s (NYSE:AAN) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 0.000-0.250 for the period, compared to the consensus EPS estimate of 0.060. The company issued revenue guidance of $2.1 billion-$2.2 billion, compared to the consensus revenue estimate of $2.1 billion. Aaron’s also updated its FY24 guidance to $0.00-0.25 EPS.

Aaron’s Stock Up 3.6 %

Shares of AAN traded up $0.26 during mid-day trading on Wednesday, reaching $7.54. The company had a trading volume of 109,025 shares, compared to its average volume of 262,869. Aaron’s has a 52 week low of $6.62 and a 52 week high of $16.16. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.73 and a current ratio of 1.04. The company has a market capitalization of $237.43 million, a price-to-earnings ratio of 92.50 and a beta of 1.31. The firm has a 50-day moving average price of $7.23 and a 200 day moving average price of $8.90.

Aaron’s (NYSE:AAN) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The firm had revenue of $511.50 million during the quarter, compared to the consensus estimate of $521.05 million. Aaron’s had a return on equity of 3.59% and a net margin of 0.13%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 EPS. On average, sell-side analysts forecast that Aaron’s will post 0.08 EPS for the current year.

Aaron’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Friday, June 14th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 6.63%. The ex-dividend date of this dividend is Friday, June 14th. Aaron’s’s dividend payout ratio (DPR) is currently 625.00%.

Analyst Upgrades and Downgrades

AAN has been the topic of several recent analyst reports. Truist Financial cut their target price on Aaron’s from $9.00 to $8.00 and set a hold rating on the stock in a research note on Wednesday. StockNews.com upgraded Aaron’s from a hold rating to a buy rating in a report on Saturday, April 6th. TD Cowen assumed coverage on Aaron’s in a research report on Friday, March 8th. They issued a market perform rating and a $7.00 target price for the company. Finally, Stifel Nicolaus reiterated a hold rating and issued a $7.00 price target on shares of Aaron’s in a research note on Monday, March 11th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $11.50.

Aaron’s Company Profile

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.