Aaron's, Inc. (NYSE:AAN) declared a quarterly dividend on Wednesday, March 7th, Wall Street Journal reports. Stockholders of record on Friday, March 23rd will be paid a dividend of 0.03 per share on Monday, April 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, March 22nd.
Aaron's has increased its dividend payment by an average of 9.4% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Aaron's has a dividend payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Aaron's to earn $3.85 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 3.1%.
Shares of AAN traded down $0.90 during midday trading on Friday, hitting $46.80. The company’s stock had a trading volume of 581,273 shares, compared to its average volume of 682,970. Aaron's has a one year low of $29.70 and a one year high of $49.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.80 and a current ratio of 2.73. The firm has a market cap of $3,279.60, a price-to-earnings ratio of 18.28 and a beta of 0.05.
Aaron's (NYSE:AAN) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.10. Aaron's had a return on equity of 11.64% and a net margin of 8.65%. The company had revenue of $884.60 million for the quarter, compared to analyst estimates of $871.07 million. During the same quarter last year, the company posted $0.50 EPS. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. research analysts forecast that Aaron's will post 3.41 EPS for the current fiscal year.
Aaron's announced that its board has authorized a stock buyback plan on Thursday, February 15th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Robert H. Yanker sold 40,195 shares of the business’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $47.69, for a total value of $1,916,899.55. Following the transaction, the director now directly owns 8,038 shares of the company’s stock, valued at approximately $383,332.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert P. Sinclair, Jr. sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $46.00, for a total value of $46,000.00. Following the completion of the transaction, the insider now directly owns 10,021 shares in the company, valued at $460,966. The disclosure for this sale can be found here. Insiders have sold a total of 42,647 shares of company stock worth $2,033,048 over the last ninety days. Company insiders own 1.93% of the company’s stock.
Several equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Aaron's from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 20th. Piper Jaffray raised their price objective on Aaron's from $42.00 to $45.00 and gave the company a “hold” rating in a report on Thursday, February 15th. KeyCorp raised their price objective on Aaron's from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, February 16th. SunTrust Banks reissued a “buy” rating on shares of Aaron's in a report on Friday, February 16th. Finally, Loop Capital downgraded Aaron's from a “buy” rating to a “hold” rating and set a $42.00 price objective on the stock. in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned 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.
COPYRIGHT VIOLATION WARNING: This news story was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The legal version of this news story can be accessed at https://www.dispatchtribunal.com/2018/04/08/aarons-inc-aan-to-issue-quarterly-dividend-of-0-03-on-april-2nd.html.
Aaron's Company Profile
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aaron's and related companies with MarketBeat.com's FREE daily email newsletter.