Aaron’s (NYSE:AAN) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Aaron’s (NYSE:AAN) issued its quarterly earnings data 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 return on equity of 3.59% and a net margin of 0.13%. The firm had revenue of $511.50 million for the quarter, compared to analyst estimates of $521.05 million. During the same period in the prior year, the firm posted $0.66 earnings per share. The business’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 NYSE AAN opened at $7.28 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.28. Aaron’s has a 52-week low of $6.62 and a 52-week high of $16.16. The stock has a market capitalization of $229.25 million, a price-to-earnings ratio of 91.00 and a beta of 1.31. The stock’s fifty day simple moving average is $7.23 and its 200 day simple moving average is $8.90.

Aaron’s Dividend Announcement

The company 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 dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 6.87%. The ex-dividend date is Friday, June 14th. Aaron’s’s payout ratio is currently 625.00%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AAN shares. Truist Financial dropped their price objective on shares of Aaron’s from $12.00 to $9.00 and set a “hold” rating for the company in a research note on Wednesday, February 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 price target 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 report on Saturday, April 6th. Finally, TD Cowen assumed coverage on Aaron’s in a report on Friday, March 8th. They issued a “market perform” rating and a $7.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.67.

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.