Jefferies Group Comments on Aaron’s Inc.’s Q3 2016 Earnings (AAN)
Aaron’s Inc. (NYSE:AAN) – Equities researchers at Jefferies Group issued their Q3 2016 earnings per share (EPS) estimates for Aaron’s in a research note issued to investors on Thursday. Jefferies Group analyst K. Joseph forecasts that the brokerage will earn $0.47 per share for the quarter. Jefferies Group has a “Buy” rating and a $30.00 price target on the stock. Jefferies Group also issued estimates for Aaron’s’ Q4 2016 earnings at $0.48 EPS, FY2016 earnings at $2.24 EPS, Q1 2017 earnings at $0.77 EPS, Q2 2017 earnings at $0.67 EPS, Q3 2017 earnings at $0.52 EPS, Q4 2017 earnings at $0.53 EPS, FY2017 earnings at $2.49 EPS, Q1 2018 earnings at $0.83 EPS, Q2 2018 earnings at $0.78 EPS, Q3 2018 earnings at $0.58 EPS and FY2018 earnings at $2.74 EPS.
Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Aaron’s from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. TheStreet upgraded shares of Aaron’s from a “hold” rating to a “buy” rating in a report on Thursday, September 1st. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Aaron’s has an average rating of “Buy” and a consensus target price of $29.93.
Aaron’s (NYSE:AAN) opened at 22.82 on Monday. The firm has a market cap of $1.66 billion, a P/E ratio of 12.46 and a beta of 0.23. The firm has a 50-day moving average of $24.69 and a 200 day moving average of $24.48. Aaron’s has a 1-year low of $20.24 and a 1-year high of $38.85.
Aaron’s (NYSE:AAN) last released its quarterly earnings data on Friday, July 29th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. Aaron’s had a net margin of 4.15% and a return on equity of 11.01%. The company earned $789.40 million during the quarter, compared to the consensus estimate of $809.16 million. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Aaron’s’s revenue for the quarter was up 2.7% on a year-over-year basis.
A number of large investors have recently added to or reduced their stakes in AAN. BlackRock Fund Advisors increased its stake in Aaron’s by 50.6% in the second quarter. BlackRock Fund Advisors now owns 3,224,821 shares of the company’s stock valued at $70,591,000 after buying an additional 1,083,323 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Aaron’s by 13.2% in the second quarter. Dimensional Fund Advisors LP now owns 5,326,839 shares of the company’s stock valued at $116,606,000 after buying an additional 619,133 shares during the last quarter. Edge Asset Management Inc. increased its stake in Aaron’s by 289.0% in the second quarter. Edge Asset Management Inc. now owns 729,701 shares of the company’s stock valued at $15,973,000 after buying an additional 542,119 shares during the last quarter. Retirement Systems of Alabama increased its stake in Aaron’s by 481.8% in the second quarter. Retirement Systems of Alabama now owns 484,821 shares of the company’s stock valued at $10,613,000 after buying an additional 401,496 shares during the last quarter. Finally, Palisade Capital Management LLC NJ bought a new stake in Aaron’s during the second quarter valued at $7,184,000. 92.00% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Robert H. Yanker purchased 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The shares were purchased at an average price of $25.29 per share, with a total value of $1,011,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.12% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 2nd were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.44%. The ex-dividend date was Wednesday, August 31st. Aaron’s’s dividend payout ratio (DPR) is 5.43%.
Aaron’s Company Profile
Aaron’s, Inc is a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. The Company’s operating segments include Sales and Lease Ownership, Progressive, HomeSmart, DAMI, Franchise, Manufacturing and Others. The Company’s store-based operations engage in the lease ownership and retail sale of a range of products, such televisions, computers, tablets, mobile phones, living room, dining room and bedroom furniture, mattresses, washers, dryers and refrigerators.
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