Aaron’s, Inc. (NYSE:AAN) announced its earnings results on Friday. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.11), Bloomberg Earnings reports. The company had revenue of $838.80 million for the quarter, compared to analysts’ expectations of $827.20 million. Aaron’s, had a net margin of 4.36% and a return on equity of 12.00%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. Aaron’s, updated its FY17 guidance to $2.45-2.65 EPS.
Aaron’s, (AAN) traded down 7.34% during mid-day trading on Friday, hitting $39.14. The company had a trading volume of 3,272,308 shares. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 20.11 and a beta of 0.21. Aaron’s, has a 52 week low of $22.96 and a 52 week high of $48.22. The firm’s 50 day moving average is $42.01 and its 200 day moving average is $39.72.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were paid a dividend of $0.027 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.28%. Aaron’s, ‘s payout ratio is 5.79%.
In related news, CFO Steven A. Michaels sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $46.26, for a total value of $231,300.00. Following the transaction, the chief financial officer now directly owns 61,095 shares of the company’s stock, valued at approximately $2,826,254.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Curtis Linn Doman sold 30,000 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $43.35, for a total value of $1,300,500.00. Following the completion of the transaction, the insider now directly owns 101,775 shares in the company, valued at $4,411,946.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,776 shares of company stock worth $2,742,507. 1.93% of the stock is owned by insiders.
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Several brokerages recently issued reports on AAN. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Aaron’s, in a research report on Monday, July 31st. Stifel Nicolaus reiterated a “buy” rating and set a $55.00 price target (up from $40.00) on shares of Aaron’s, in a report on Sunday, July 30th. Jefferies Group LLC reiterated a “buy” rating on shares of Aaron’s, in a report on Sunday, July 30th. Northcoast Research reiterated a “buy” rating and set a $52.50 price target (up from $45.00) on shares of Aaron’s, in a report on Monday, July 31st. Finally, Zacks Investment Research lowered Aaron’s, from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $44.94.
Aaron’s, Company Profile
Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.
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