Aaron’s (NYSE:AAN) Announces Earnings Results, Misses Estimates By $0.08 EPS

Aaron’s (NYSE:AAN) issued its quarterly earnings results on Monday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08), Briefing.com reports. Aaron’s had a net margin of 0.13% and a return on equity of 3.59%. The business had revenue of $511.50 million during the quarter, compared to analyst estimates of $521.05 million. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. Aaron’s updated its FY24 guidance to $0.00-0.25 EPS and its FY 2024 guidance to 0.000-0.250 EPS.

Aaron’s Stock Performance

Shares of AAN opened at $7.56 on Thursday. The company has a market cap of $237.87 million, a PE ratio of -9.56 and a beta of 1.31. The firm has a 50-day moving average of $7.22 and a 200-day moving average of $8.89. Aaron’s has a one year low of $6.62 and a one year high of $16.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.04 and a quick ratio of 0.73.

Aaron’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Friday, June 14th will be paid a $0.125 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.50 annualized dividend and a yield of 6.62%. Aaron’s’s payout ratio is currently -63.29%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AAN. Truist Financial reduced their target price on Aaron’s from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday. StockNews.com cut shares of Aaron’s from a “buy” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus restated a “hold” rating and set a $7.00 price target on shares of Aaron’s in a research note on Monday, March 11th. Finally, TD Cowen initiated coverage on Aaron’s in a research note on Friday, March 8th. They issued a “market perform” rating and a $7.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.50.

Aaron’s Company Profile

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.