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 also updated its FY 2024 guidance to 0.000-0.250 EPS.

Analysts Set New Price Targets

A number of brokerages have commented on AAN. Stifel Nicolaus reaffirmed a hold rating and set a $7.00 target price on shares of Aaron’s in a research note on Monday, March 11th. TD Cowen assumed coverage on Aaron’s in a report on Friday, March 8th. They issued a market perform rating and a $7.00 price objective on the stock. StockNews.com upgraded Aaron’s from a hold rating to a buy rating in a report on Saturday, April 6th. Finally, Truist Financial decreased 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $11.50.

Aaron’s Stock Up 3.8 %

Shares of Aaron’s stock traded up $0.27 during trading hours on Wednesday, reaching $7.56. 309,167 shares of the company were exchanged, compared to its average volume of 265,161. 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 is $7.22 and its 200 day moving average is $8.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.73 and a current ratio of 1.04. The firm has a market cap of $237.87 million, a PE ratio of -9.56 and a beta of 1.31.

Aaron’s (NYSE:AAN) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). 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 for the quarter, compared to analysts’ expectations of $521.05 million. During the same period in the prior year, the company posted $0.66 EPS. The firm’s revenue was down 7.7% compared to the same quarter last year. As a group, equities research analysts forecast that Aaron’s will post 0.08 earnings per share for the current year.

Aaron’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Friday, June 14th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 6.62%. The ex-dividend date is Friday, June 14th. Aaron’s’s dividend payout ratio (DPR) is presently -63.29%.

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.