Aaron's, Inc. (AAN) Expected to Announce Quarterly Sales of $940.82 Million

Equities analysts expect Aaron's, Inc. (NYSE:AAN) to announce sales of $940.82 million for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Aaron's’ earnings, with the highest sales estimate coming in at $976.45 million and the lowest estimate coming in at $919.00 million. Aaron's reported sales of $844.55 million during the same quarter last year, which suggests a positive year over year growth rate of 11.4%. The company is expected to issue its next earnings results on Friday, April 27th.

According to Zacks, analysts expect that Aaron's will report full-year sales of $940.82 million for the current financial year, with estimates ranging from $3.73 billion to $3.84 billion. For the next financial year, analysts anticipate that the business will post sales of $4.09 billion per share, with estimates ranging from $3.90 billion to $4.25 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Aaron's.

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Aaron's (NYSE:AAN) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.55 by $0.10. The firm had revenue of $884.60 million during the quarter, compared to analysts’ expectations of $871.07 million. Aaron's had a return on equity of 11.64% and a net margin of 8.65%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share.

A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Aaron's from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Piper Jaffray upped their price target on shares of Aaron's from $42.00 to $45.00 and gave the stock a “hold” rating in a research note on Thursday, February 15th. KeyCorp increased their price objective on shares of Aaron's from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. SunTrust Banks reissued a “buy” rating on shares of Aaron's in a research note on Friday, February 16th. Finally, Loop Capital cut shares of Aaron's from a “buy” rating to a “hold” rating and set a $42.00 price objective on the stock. in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.36.

In other Aaron's news, insider Robert P. Sinclair, Jr. sold 1,000 shares of the company’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $48.00, for a total value of $48,000.00. Following the transaction, the insider now directly owns 13,163 shares in the company, valued at approximately $631,824. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert H. Yanker sold 40,195 shares of the company’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $47.69, for a total transaction of $1,916,899.55. Following the completion of the transaction, the director now owns 8,038 shares in the company, valued at $383,332.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,647 shares of company stock worth $2,033,048. 1.93% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Nationwide Fund Advisors grew its position in Aaron's by 32.9% during the third quarter. Nationwide Fund Advisors now owns 204,188 shares of the company’s stock valued at $8,909,000 after buying an additional 50,561 shares during the period. Macquarie Group Ltd. bought a new position in shares of Aaron's in the 3rd quarter valued at $777,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Aaron's by 156.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,795 shares of the company’s stock valued at $296,000 after purchasing an additional 4,146 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Aaron's by 5.7% in the 3rd quarter. Legal & General Group Plc now owns 84,597 shares of the company’s stock valued at $3,691,000 after purchasing an additional 4,572 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Aaron's by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 929,135 shares of the company’s stock valued at $40,453,000 after purchasing an additional 59,129 shares during the last quarter.

AAN stock traded down $0.90 during mid-day trading on Tuesday, hitting $46.80. The company had a trading volume of 581,273 shares, compared to its average volume of 682,970. The stock has a market cap of $3,279.60, a P/E ratio of 18.28 and a beta of 0.05. Aaron's has a 12-month low of $29.70 and a 12-month high of $49.77. The company has a quick ratio of 0.80, a current ratio of 2.73 and a debt-to-equity ratio of 0.21.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Friday, March 23rd were paid a $0.03 dividend. The ex-dividend date was Thursday, March 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.26%. Aaron's’s payout ratio is 4.69%.

Aaron's announced that its Board of Directors has approved a share buyback plan on Thursday, February 15th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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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.

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