Aaron’s (NYSE:AAN) Updates FY24 Earnings Guidance

Aaron’s (NYSE:AAN) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $0.00-0.25 for the period, compared to the consensus earnings per share estimate of $0.09. The company issued revenue guidance of $2.055-2.155 billion, compared to the consensus revenue estimate of $2.12 billion. Aaron’s also updated its FY 2024 guidance to 0.000-0.250 EPS.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Aaron’s from a buy rating to a hold rating in a research note on Wednesday. Truist Financial reduced their price objective on shares of Aaron’s from $9.00 to $8.00 and set a hold rating on the stock in a research note on Wednesday. Stifel Nicolaus reaffirmed a hold rating and issued a $7.00 price objective on shares of Aaron’s in a research note on Monday, March 11th. Finally, TD Cowen assumed coverage on shares of 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Aaron’s has a consensus rating of Hold and an average price target of $11.50.

Aaron’s Trading Down 0.1 %

Shares of NYSE AAN traded down $0.01 during midday trading on Thursday, reaching $7.55. 35,463 shares of the stock were exchanged, compared to its average volume of 262,525. The company has a market capitalization of $237.71 million, a price-to-earnings ratio of -9.59 and a beta of 1.31. Aaron’s has a 12 month low of $6.62 and a 12 month high of $16.16. The business has a 50-day simple moving average of $7.22 and a two-hundred day simple moving average of $8.89. 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 (NYSE:AAN) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company had revenue of $511.50 million during the quarter, compared to the consensus estimate of $521.05 million. Aaron’s had a net margin of 0.13% and a return on equity of 3.59%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. As a group, equities research analysts expect that Aaron’s will post 0.08 EPS for the current year.

Aaron’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors 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 6.62%. Aaron’s’s dividend payout ratio is currently -63.29%.

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.