Aaron’s, Inc. (NYSE:AAN) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Investors of record on Thursday, September 19th will be given a dividend of 0.035 per share on Friday, October 4th. This represents a $0.14 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Wednesday, September 18th.
Aaron’s has raised its dividend payment by an average of 9.3% annually over the last three years and has increased its dividend every year for the last 12 years. Aaron’s has a payout ratio of 4.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Aaron’s to earn $4.48 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 3.1%.
Shares of AAN opened at $62.75 on Monday. The stock’s 50-day moving average price is $63.32 and its two-hundred day moving average price is $58.21. Aaron’s has a 12 month low of $39.28 and a 12 month high of $68.44. The company has a current ratio of 2.77, a quick ratio of 0.63 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $4.24 billion, a PE ratio of 18.68, a PEG ratio of 1.06 and a beta of 0.50.
Aaron’s (NYSE:AAN) last issued its earnings results on Thursday, July 25th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. The business had revenue of $968.14 million during the quarter, compared to analyst estimates of $966.50 million. Aaron’s had a return on equity of 14.48% and a net margin of 5.20%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. Equities research analysts predict that Aaron’s will post 3.94 EPS for the current fiscal year.
In other news, CEO John W. Robinson sold 15,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $62.09, for a total value of $931,350.00. Following the sale, the chief executive officer now directly owns 295,933 shares in the company, valued at approximately $18,374,479.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kelly Hefner Barrett bought 2,000 shares of Aaron’s stock in a transaction dated Monday, July 29th. The stock was acquired at an average price of $63.33 per share, for a total transaction of $126,660.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 21,758 shares of company stock worth $1,349,246. 2.78% of the stock is owned by corporate insiders.
A number of brokerages have recently weighed in on AAN. Stephens set a $67.00 target price on Aaron’s and gave the stock a “buy” rating in a research note on Wednesday, June 12th. ValuEngine cut shares of Aaron’s from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. KeyCorp upped their price target on shares of Aaron’s from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Zacks Investment Research raised Aaron’s from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, August 20th. Finally, Loop Capital increased their target price on Aaron’s to $70.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $69.88.
Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. It operates in three segments: Progressive Leasing, Aaron's Business, and DAMI. The company also engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.
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