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

Aaron’s (NYSE:AAN) posted its earnings results on Monday. The company reported ($0.15) earnings per share 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 for the quarter, compared to analyst estimates of $521.05 million. During the same quarter in the previous year, the firm posted $0.66 EPS. The business’s revenue 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 Price Performance

Shares of NYSE:AAN traded up $0.15 on Wednesday, reaching $7.43. 16,026 shares of the company traded hands, compared to its average volume of 261,804. 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 has a fifty-two week low of $6.62 and a fifty-two week high of $16.16. The stock has a market capitalization of $233.97 million, a PE ratio of 93.50 and a beta of 1.31. The company’s 50 day moving average is $7.23 and its 200-day moving average is $8.90.

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 given a $0.125 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.50 annualized dividend and a yield of 6.73%. Aaron’s’s dividend payout ratio (DPR) is 625.00%.

Wall Street Analyst Weigh In

AAN has been the topic of several research analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 price target on shares of Aaron’s in a research report on Monday, March 11th. Truist Financial cut their target price on Aaron’s from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday. StockNews.com raised Aaron’s from a “hold” rating to a “buy” rating in a report on Saturday, April 6th. Finally, TD Cowen began coverage on Aaron’s in a report on Friday, March 8th. They issued a “market perform” rating and a $7.00 price objective for the company. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Aaron’s has an average rating of “Hold” and an average target price 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.