Wall Street brokerages forecast that Aaron’s, Inc. (NYSE:AAN) will post earnings per share of $0.83 for the current quarter, according to Zacks. Seven analysts have made estimates for Aaron’s’ earnings. The highest EPS estimate is $0.86 and the lowest is $0.77. Aaron’s posted earnings per share of $0.69 in the same quarter last year, which suggests a positive year-over-year growth rate of 20.3%. The company is scheduled to announce its next quarterly earnings results on Thursday, October 24th.
On average, analysts expect that Aaron’s will report full-year earnings of $3.94 per share for the current fiscal year, with EPS estimates ranging from $3.92 to $3.98. For the next financial year, analysts expect that the firm will report earnings of $4.48 per share, with EPS estimates ranging from $4.31 to $4.70. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Aaron’s.
Aaron’s (NYSE:AAN) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.05. The company had revenue of $968.14 million during the quarter, compared to analyst estimates of $966.50 million. Aaron’s had a net margin of 5.20% and a return on equity of 14.48%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS.
Several brokerages recently weighed in on AAN. Northcoast Research lifted their price objective on shares of Aaron’s from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Zacks Investment Research upgraded Aaron’s from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Tuesday, August 20th. Raymond James set a $72.00 target price on Aaron’s and gave the company a “buy” rating in a research report on Friday, July 26th. KeyCorp lifted their target price on Aaron’s from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, ValuEngine cut Aaron’s from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Aaron’s presently has a consensus rating of “Buy” and a consensus price target of $69.88.
NYSE AAN opened at $60.20 on Wednesday. Aaron’s has a one year low of $39.28 and a one year high of $68.44. The company has a 50-day simple moving average of $62.99 and a 200-day simple moving average of $58.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.63 and a current ratio of 2.77. The firm has a market capitalization of $4.09 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.02 and a beta of 0.50.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Wednesday, September 18th. Aaron’s’s dividend payout ratio (DPR) is currently 4.17%.
In related news, EVP Robert W. Kamerschen sold 1,258 shares of Aaron’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $62.00, for a total value of $77,996.00. Following the transaction, the executive vice president now directly owns 32,844 shares of the company’s stock, valued at $2,036,328. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Steven A. Michaels sold 3,000 shares of Aaron’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 54,554 shares in the company, valued at $3,376,892.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,758 shares of company stock worth $1,349,246. Company insiders own 2.78% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of Aaron’s by 16.2% in the fourth quarter. Geode Capital Management LLC now owns 877,428 shares of the company’s stock worth $36,894,000 after acquiring an additional 122,334 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Aaron’s during the 1st quarter worth approximately $8,971,000. State Board of Administration of Florida Retirement System grew its stake in shares of Aaron’s by 23.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 54,529 shares of the company’s stock worth $2,868,000 after acquiring an additional 10,359 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Aaron’s by 31.0% during the 1st quarter. Global Retirement Partners LLC now owns 778 shares of the company’s stock worth $41,000 after acquiring an additional 184 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of Aaron’s by 0.4% during the 1st quarter. New York State Common Retirement Fund now owns 226,943 shares of the company’s stock worth $11,937,000 after acquiring an additional 907 shares in the last quarter. 96.89% of the stock is currently owned by institutional investors.
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.
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