Aaron’s, Inc. (AAN) Trading Down 7.3% Following Weak Earnings

Shares of Aaron’s, Inc. (NYSE:AAN) were down 7.3% during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $37.93 and last traded at $39.14. Approximately 3,272,308 shares were traded during mid-day trading, an increase of 270% from the average daily volume of 883,814 shares. The stock had previously closed at $42.24.

The company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.11). The firm had revenue of $838.80 million during the quarter, compared to analyst estimates of $827.20 million. Aaron’s, had a return on equity of 12.00% and a net margin of 4.36%. Aaron’s, ‘s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were given a $0.027 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.11 dividend on an annualized basis and a yield of 0.28%. Aaron’s, ‘s payout ratio is 5.64%.

Several equities analysts have recently issued reports on AAN shares. BidaskClub lowered Aaron’s, from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 7th. Jefferies Group LLC restated a “buy” rating on shares of Aaron’s, in a research report on Sunday, July 30th. Stifel Nicolaus restated a “buy” rating and set a $55.00 target price (up from $40.00) on shares of Aaron’s, in a research report on Sunday, July 30th. SunTrust Banks, Inc. restated a “buy” rating on shares of Aaron’s, in a research report on Monday, July 31st. Finally, Northcoast Research restated a “buy” rating and set a $52.50 target price (up from $45.00) on shares of Aaron’s, in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Aaron’s, has a consensus rating of “Hold” and an average target price of $44.94.

In other news, insider Robert P. Sinclair, Jr. sold 1,000 shares of Aaron’s, stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the transaction, the insider now owns 11,469 shares in the company, valued at approximately $516,105. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert P. Sinclair, Jr. sold 4,000 shares of Aaron’s, stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $43.47, for a total value of $173,880.00. Following the transaction, the insider now owns 12,469 shares in the company, valued at approximately $542,027.43. The disclosure for this sale can be found here. Insiders have sold a total of 61,776 shares of company stock worth $2,742,507 in the last quarter. 1.93% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in AAN. UBS Asset Management Americas Inc. lifted its holdings in shares of Aaron’s, by 12.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 97,818 shares of the company’s stock valued at $2,909,000 after purchasing an additional 11,029 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Aaron’s, by 24.1% during the 1st quarter. Victory Capital Management Inc. now owns 4,003 shares of the company’s stock valued at $119,000 after purchasing an additional 778 shares in the last quarter. Credit Agricole S A lifted its holdings in shares of Aaron’s, by 10.6% during the 1st quarter. Credit Agricole S A now owns 10,443 shares of the company’s stock valued at $311,000 after purchasing an additional 1,005 shares in the last quarter. United Services Automobile Association bought a new position in shares of Aaron’s, during the 1st quarter valued at about $493,000. Finally, OppenheimerFunds Inc. lifted its holdings in shares of Aaron’s, by 38.1% during the 1st quarter. OppenheimerFunds Inc. now owns 28,123 shares of the company’s stock valued at $836,000 after purchasing an additional 7,752 shares in the last quarter.

The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 20.11 and a beta of 0.21. The firm’s 50-day moving average is $42.06 and its 200-day moving average is $39.63.

COPYRIGHT VIOLATION WARNING: This article was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2017/10/28/aarons-inc-aan-trading-down-7-3-following-weak-earnings.html.

About Aaron’s,

Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.

Receive News & Ratings for Aaron's Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aaron's Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply