Aaron’s (NYSE:AAN) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Aaron’s (NYSE:AAN) posted its quarterly earnings results on Monday. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.08), Briefing.com reports. Aaron’s had a return on equity of 3.59% and a net margin of 0.13%. The company had revenue of $511.50 million during the quarter, compared to analysts’ expectations of $521.05 million. During the same quarter in the previous year, the company earned $0.66 EPS. The business’s quarterly revenue was down 7.7% on a year-over-year basis. Aaron’s updated its FY24 guidance to $0.00-0.25 EPS and its FY 2024 guidance to 0.000-0.250 EPS.

Aaron’s Stock Performance

AAN stock opened at $7.56 on Thursday. The company has a market cap of $237.87 million, a P/E ratio of -9.56 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.04 and a quick ratio of 0.73. Aaron’s has a 1 year low of $6.62 and a 1 year high of $16.16. The stock’s fifty day moving average price is $7.22 and its 200-day moving average price is $8.89.

Aaron’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Friday, June 14th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, June 14th. This represents a $0.50 dividend on an annualized basis and a yield of 6.62%. Aaron’s’s dividend payout ratio is presently -63.29%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Truist Financial lowered their price target on Aaron’s from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday. Stifel Nicolaus reiterated a “hold” rating and set a $7.00 price target on shares of Aaron’s in a report on Monday, March 11th. StockNews.com lowered shares of Aaron’s from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, TD Cowen began coverage on Aaron’s in a research note on Friday, March 8th. They set a “market perform” rating and a $7.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.50.

About Aaron’s

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.