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 (EPS) guidance of $0.00-0.25 for the period, compared to the consensus 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 Price Performance

NYSE AAN traded up $0.07 on Monday, hitting $7.02. 133,494 shares of the company were exchanged, compared to its average volume of 262,114. Aaron’s has a 1-year low of $6.69 and a 1-year high of $16.16. The firm has a 50 day moving average of $7.32 and a two-hundred day moving average of $8.93. The company has a market cap of $221.06 million, a P/E ratio of 86.88 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.29). Aaron’s had a net margin of 0.13% and a return on equity of 3.59%. The business had revenue of $529.50 million during the quarter, compared to the consensus estimate of $542.07 million. During the same period in the previous year, the business posted $0.09 earnings per share. Aaron’s’s revenue was down 10.2% compared to the same quarter last year. On average, equities analysts predict that Aaron’s will post 0.08 EPS for the current year.

Aaron’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Thursday, March 14th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.12%. The ex-dividend date was Wednesday, March 13th. Aaron’s’s dividend payout ratio (DPR) is presently 625.00%.

Wall Street Analyst Weigh In

AAN has been the topic of several recent research reports. TD Cowen started coverage on Aaron’s in a research report on Friday, March 8th. They set a market perform rating and a $7.00 price objective on the stock. Truist Financial lowered their target price on 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 reissued a hold rating and set a $7.00 target price on shares of Aaron’s in a report on Monday, March 11th. Finally, StockNews.com upgraded shares of Aaron’s from a hold rating to a buy rating in a research report on Saturday, April 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Aaron’s currently has an average rating of Hold and a consensus price target of $11.67.

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.