Aaron’s (NYSE:AAN) Announces Quarterly Earnings Results, Misses Estimates By $0.29 EPS

Aaron’s (NYSE:AANGet Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.29), Briefing.com reports. Aaron’s had a return on equity of 3.59% and a net margin of 0.13%. The firm had revenue of $529.50 million during the quarter, compared to analysts’ expectations of $542.07 million. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. Aaron’s updated its FY 2024 guidance to -0.100-0.250 EPS.

Aaron’s Stock Down 2.1 %

AAN stock traded down $0.17 during trading on Thursday, reaching $7.90. 188,280 shares of the company traded hands, compared to its average volume of 259,160. Aaron’s has a 12 month low of $6.72 and a 12 month high of $16.16. The business has a 50 day simple moving average of $10.58 and a 200 day simple moving average of $10.11. The company has a market capitalization of $239.61 million, a price-to-earnings ratio of 100.88 and a beta of 1.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.74 and a current ratio of 1.04.

Aaron’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Thursday, March 14th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date of this dividend is Wednesday, March 13th. Aaron’s’s payout ratio is currently 625.00%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AAN shares. Stephens upgraded Aaron’s from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 2nd. Truist Financial lowered their target price on Aaron’s from $12.00 to $9.00 and set a “hold” rating for the company in a report on Wednesday. Finally, StockNews.com downgraded Aaron’s from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Aaron’s has a consensus rating of “Hold” and an average target price of $12.76.

View Our Latest Stock Report on Aaron’s

Insiders Place Their Bets

In other Aaron’s news, President Stephen W. Olsen sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $11.08, for a total value of $110,800.00. Following the completion of the sale, the president now owns 94,885 shares of the company’s stock, valued at $1,051,325.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Aaron’s

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE raised its stake in shares of Aaron’s by 515.7% in the fourth quarter. US Bancorp DE now owns 3,343 shares of the company’s stock worth $36,000 after purchasing an additional 2,800 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Aaron’s in the fourth quarter worth about $57,000. State of Wyoming purchased a new position in shares of Aaron’s in the second quarter worth about $61,000. UBS Group AG raised its stake in shares of Aaron’s by 430.2% in the third quarter. UBS Group AG now owns 6,554 shares of the company’s stock worth $64,000 after purchasing an additional 8,539 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Aaron’s by 133.4% in the third quarter. Tower Research Capital LLC TRC now owns 6,931 shares of the company’s stock worth $68,000 after purchasing an additional 3,962 shares during the last quarter. Institutional investors and hedge funds own 93.82% of the company’s stock.

Aaron’s Company Profile

(Get Free Report)

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.

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Earnings History for Aaron's (NYSE:AAN)

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