Analysts forecast that Aaron’s, Inc. (NYSE:AAN) will announce $991.76 million in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Aaron’s’ earnings, with the lowest sales estimate coming in at $973.40 million and the highest estimate coming in at $1.02 billion. Aaron’s reported sales of $884.63 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.1%. The firm is expected to issue its next quarterly earnings results on Thursday, February 21st.
According to Zacks, analysts expect that Aaron’s will report full year sales of $3.83 billion for the current fiscal year, with estimates ranging from $3.81 billion to $3.85 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.23 billion, with estimates ranging from $4.12 billion to $4.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Aaron’s.
Aaron’s (NYSE:AAN) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). Aaron’s had a net margin of 8.39% and a return on equity of 12.22%. The business had revenue of $953.07 million during the quarter, compared to the consensus estimate of $948.48 million.
AAN has been the topic of a number of research analyst reports. Zacks Investment Research cut Aaron’s from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. KeyCorp increased their price objective on Aaron’s from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, September 20th. ValuEngine upgraded Aaron’s from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Northcoast Research cut Aaron’s from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 9th. Finally, Loop Capital increased their price objective on Aaron’s to $59.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.10.
AAN traded down $1.05 during trading hours on Friday, reaching $49.58. The company’s stock had a trading volume of 499,839 shares, compared to its average volume of 715,179. Aaron’s has a 52 week low of $35.16 and a 52 week high of $56.00. The company has a current ratio of 2.43, a quick ratio of 0.55 and a debt-to-equity ratio of 0.17. The stock has a market cap of $3.50 billion, a PE ratio of 19.37 and a beta of 0.25.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 7th. Shareholders of record on Thursday, December 20th will be given a dividend of $0.035 per share. This is a boost from Aaron’s’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, December 19th. This represents a $0.14 annualized dividend and a yield of 0.28%. Aaron’s’s dividend payout ratio (DPR) is presently 4.69%.
In other news, CEO Ryan K. Woodley sold 12,500 shares of the stock in a transaction on Monday, October 29th. The stock was sold at an average price of $45.20, for a total transaction of $565,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Curtis Linn Doman sold 35,000 shares of the stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $50.00, for a total value of $1,750,000.00. Following the sale, the insider now directly owns 67,523 shares in the company, valued at $3,376,150. The disclosure for this sale can be found here. Insiders have sold a total of 55,904 shares of company stock worth $2,733,578 in the last quarter. Company insiders own 2.28% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Aaron’s by 5.7% during the 3rd quarter. BlackRock Inc. now owns 7,856,974 shares of the company’s stock worth $427,892,000 after purchasing an additional 422,488 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Aaron’s by 88.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 2,601,402 shares of the company’s stock worth $113,031,000 after purchasing an additional 1,219,143 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Aaron’s by 9.0% during the 2nd quarter. Northern Trust Corp now owns 1,646,905 shares of the company’s stock worth $71,558,000 after purchasing an additional 135,616 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in shares of Aaron’s by 10.9% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,333,166 shares of the company’s stock worth $58,393,000 after purchasing an additional 131,115 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in shares of Aaron’s by 25.3% during the 2nd quarter. Glenmede Trust Co. NA now owns 1,057,488 shares of the company’s stock worth $45,947,000 after purchasing an additional 213,678 shares in the last quarter.
Aaron’s Company Profile
Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions. It operates through three segments: Progressive Leasing, Aaron's Business, and DAMI. The company engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.
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