Aaron’s (NYSE:AAN) Issues FY24 Earnings Guidance

Aaron’s (NYSE:AAN) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $0.00-0.25 for the period, compared to the consensus EPS 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 Stock Performance

Shares of NYSE AAN traded up $0.07 during trading on Monday, reaching $7.02. The stock had a trading volume of 133,494 shares, compared to its average volume of 262,114. The stock has a market cap of $221.06 million, a PE ratio of 86.88 and a beta of 1.31. Aaron’s has a one year low of $6.69 and a one year high of $16.16. The firm’s 50 day moving average price is $7.32 and its two-hundred day moving average price is $8.93. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.73 and a current ratio of 1.04.

Aaron’s (NYSE:AAN) last issued 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 return on equity of 3.59% and a net margin of 0.13%. The business had revenue of $529.50 million during the quarter, compared to the consensus estimate of $542.07 million. During the same period last year, the company earned $0.09 earnings per share. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, research analysts forecast 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 was paid on Wednesday, April 3rd. Shareholders of record on Thursday, March 14th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.50 annualized dividend and a yield of 7.12%. Aaron’s’s dividend payout ratio (DPR) is presently 625.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AAN. StockNews.com upgraded shares of Aaron’s from a hold rating to a buy rating in a report on Saturday, April 6th. Stifel Nicolaus reaffirmed a hold rating and set a $7.00 price objective on shares of Aaron’s in a report on Monday, March 11th. TD Cowen assumed coverage on Aaron’s in a research report on Friday, March 8th. They issued a market perform rating and a $7.00 price target on the stock. Finally, Truist Financial cut their target price on shares of Aaron’s from $12.00 to $9.00 and set a hold rating for the company in a research note on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Aaron’s presently has an average rating of Hold and a consensus target price of $11.67.

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.