Aaron’s (NYSE:AAN) Releases FY 2024 Earnings Guidance

Aaron’s (NYSE:AAN) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.000-0.250 for the period, compared to the consensus EPS estimate of 0.060. The company issued revenue guidance of $2.1 billion-$2.2 billion, compared to the consensus revenue estimate of $2.1 billion. Aaron’s also updated its FY24 guidance to $0.00-0.25 EPS.

Analyst Ratings Changes

Several equities analysts have issued reports on AAN shares. StockNews.com upgraded Aaron’s from a hold rating to a buy rating in a research report on Saturday, April 6th. Truist Financial reduced their price target on shares of Aaron’s from $9.00 to $8.00 and set a hold rating on the stock in a research report on Wednesday. Stifel Nicolaus restated a hold rating and issued a $7.00 price objective on shares of Aaron’s in a research report on Monday, March 11th. Finally, TD Cowen started coverage on shares of Aaron’s in a research report on Friday, March 8th. They set a market perform rating and a $7.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $11.50.

Aaron’s Trading Up 3.6 %

Shares of NYSE AAN traded up $0.26 during mid-day trading on Wednesday, hitting $7.54. The company’s stock had a trading volume of 109,025 shares, compared to its average volume of 262,869. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.04 and a quick ratio of 0.73. The stock has a market cap of $237.43 million, a price-to-earnings ratio of 92.50 and a beta of 1.31. The company’s fifty day simple moving average is $7.23 and its 200-day simple moving average is $8.90. Aaron’s has a one year low of $6.62 and a one year high of $16.16.

Aaron’s (NYSE:AAN) last announced its quarterly earnings data on Monday, May 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). 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 during the quarter, compared to the consensus estimate of $521.05 million. During the same period in the previous year, the business posted $0.66 earnings per share. Aaron’s’s revenue was down 7.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Aaron’s will post 0.08 earnings per share for the current fiscal year.

Aaron’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Friday, June 14th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.50 annualized dividend and a yield of 6.63%. Aaron’s’s dividend payout ratio is presently 625.00%.

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.