Aaron’s (NYSE:AAN) Updates FY 2024 Earnings Guidance

Aaron’s (NYSE:AAN) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.000-0.250 for the period, compared to the consensus estimate of 0.060. The company issued revenue guidance of $2.1 billion-$2.2 billion, compared to the consensus revenue estimate of $2.1 billion. Aaron’s also updated its FY24 guidance to $0.00-0.25 EPS.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Cowen started coverage on shares of Aaron’s in a research report on Friday, March 8th. They set a market perform rating and a $7.00 target price on the stock. Stifel Nicolaus reissued a hold rating and set a $7.00 price objective on shares of Aaron’s in a report on Monday, March 11th. StockNews.com upgraded Aaron’s from a hold rating to a buy rating in a research note on Saturday, April 6th. Finally, Truist Financial decreased their price target on shares of Aaron’s from $12.00 to $9.00 and set a hold rating on the stock in a research note on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $11.67.

Aaron’s Trading Up 1.1 %

Shares of AAN traded up $0.08 on Monday, reaching $7.03. 135,232 shares of the company’s stock were exchanged, compared to its average volume of 262,546. The business has a 50 day moving average price of $7.32 and a two-hundred day moving average price of $8.93. Aaron’s has a 12 month low of $6.69 and a 12 month high of $16.16. The stock has a market capitalization of $221.22 million, a P/E ratio of 87.75 and a beta of 1.31. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.28.

Aaron’s (NYSE:AAN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.29). Aaron’s had a return on equity of 3.59% and a net margin of 0.13%. The company had revenue of $529.50 million for the quarter, compared to analyst estimates of $542.07 million. During the same period last year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. Research analysts anticipate that Aaron’s will post 0.08 earnings per share for the current year.

Aaron’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Thursday, March 14th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 7.12%. The ex-dividend date was Wednesday, March 13th. Aaron’s’s payout ratio is presently 625.00%.

About Aaron’s

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.