Aaron’s (NYSE:AAN) Issues FY 2024 Earnings Guidance

Aaron’s (NYSE:AAN) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.000-0.250 for the period, compared to the consensus estimate of 0.060. The company issued revenue guidance of $2.1 billion-$2.2 billion, compared to the consensus revenue estimate of $2.1 billion. Aaron’s also updated its FY24 guidance to $0.00-0.25 EPS.

Analyst Ratings Changes

AAN has been the subject of several recent analyst reports. StockNews.com raised shares of Aaron’s from a hold rating to a buy rating in a research note on Saturday, April 6th. Stifel Nicolaus reissued a hold rating and issued a $7.00 price target on shares of Aaron’s in a report on Monday, March 11th. TD Cowen assumed coverage on Aaron’s in a report on Friday, March 8th. They set a market perform rating and a $7.00 target price for the company. Finally, Truist Financial dropped their price target on Aaron’s from $12.00 to $9.00 and set a hold rating on the stock in a research report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $11.67.

Aaron’s Trading Up 1.1 %

Shares of NYSE:AAN traded up $0.08 during trading on Monday, hitting $7.03. The company had a trading volume of 135,232 shares, compared to its average volume of 262,546. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.04 and a quick ratio of 0.73. The company has a fifty day simple moving average of $7.32 and a two-hundred day simple moving average of $8.93. The stock has a market cap of $221.22 million, a price-to-earnings ratio of 87.75 and a beta of 1.31. Aaron’s has a one year low of $6.69 and a one year high of $16.16.

Aaron’s (NYSE:AAN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.29). The firm had revenue of $529.50 million during the quarter, compared to the consensus estimate of $542.07 million. Aaron’s had a return on equity of 3.59% and a net margin of 0.13%. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.09 EPS. As a group, equities analysts forecast that Aaron’s will post 0.08 earnings per share for the current year.

Aaron’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Thursday, March 14th were issued 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 dividend yield of 7.12%. Aaron’s’s dividend payout ratio (DPR) is currently 625.00%.

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.