Aaron’s, Inc. (NYSE:AAN) declared a quarterly dividend on Thursday, November 9th, Wall Street Journal reports. Stockholders of record on Wednesday, December 13th will be paid a dividend of 0.03 per share on Tuesday, January 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Tuesday, December 12th. This is a positive change from Aaron’s’s previous quarterly dividend of $0.03.
Aaron’s has raised its dividend by an average of 25.2% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Aaron’s has a payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Aaron’s to earn $2.92 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 4.1%.
Aaron’s (AAN) opened at $37.72 on Thursday. The stock has a market capitalization of $2,654.25, a price-to-earnings ratio of 15.56 and a beta of 0.23. The company has a current ratio of 2.35, a quick ratio of 0.74 and a debt-to-equity ratio of 0.24. Aaron’s has a 1-year low of $26.12 and a 1-year high of $48.22.
A number of research analysts have recently issued reports on AAN shares. Jefferies Group reaffirmed a “buy” rating and set a $54.00 price target on shares of Aaron’s in a report on Thursday, August 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $55.00 price target on shares of Aaron’s in a report on Friday, September 1st. Off Wall Street started coverage on Aaron’s in a report on Monday, September 18th. They set a “sell” rating on the stock. KeyCorp raised Aaron’s from a “sector weight” rating to an “overweight” rating and set a $50.00 price target on the stock in a report on Thursday, September 28th. Finally, Zacks Investment Research downgraded Aaron’s from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Aaron’s currently has an average rating of “Buy” and an average target price of $43.30.
In other Aaron’s news, CEO John W. Robinson sold 15,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $36.24, for a total value of $543,600.00. Following the transaction, the chief executive officer now owns 337,340 shares of the company’s stock, valued at $12,225,201.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven A. Michaels sold 4,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $37.15, for a total value of $148,600.00. Following the completion of the transaction, the chief financial officer now directly owns 56,769 shares in the company, valued at approximately $2,108,968.35. The disclosure for this sale can be found here. In the last three months, insiders acquired 1,431,000 shares of company stock worth $65,250 and sold 19,003 shares worth $692,308. 1.93% of the stock is currently owned by corporate insiders.
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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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