The Aaron’s Company, Inc. Declares Quarterly Dividend of $0.13 (NYSE:AAN)

The Aaron’s Company, Inc. (NYSE:AAN) declared a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.125 per share on Wednesday, July 3rd. This represents a $0.50 annualized dividend and a yield of 6.70%. The ex-dividend date of this dividend is Friday, June 14th.

Aaron’s has a payout ratio of 78.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Aaron’s to earn $0.67 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 74.6%.

Aaron’s Stock Up 2.5 %

Shares of NYSE:AAN traded up $0.18 on Wednesday, reaching $7.46. The company had a trading volume of 11,203 shares, compared to its average volume of 261,754. Aaron’s has a 52-week low of $6.62 and a 52-week high of $16.16. The firm’s 50 day simple moving average is $7.23 and its 200-day simple moving average is $8.90. The firm has a market capitalization of $234.92 million, a PE ratio of 93.50 and a beta of 1.31. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.28.

Aaron’s (NYSE:AAN) last issued its quarterly earnings data on Monday, May 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company had revenue of $511.50 million during the quarter, compared to analyst estimates of $521.05 million. Aaron’s had a net margin of 0.13% and a return on equity of 3.59%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS. As a group, analysts expect that Aaron’s will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.