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

The Aaron’s Company, Inc. (NYSE:AAN) declared a quarterly dividend on Monday, August 5th, Wall Street Journal reports. Shareholders of record on Friday, September 13th will be paid a dividend of 0.125 per share on Thursday, October 3rd. This represents a $0.50 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Friday, September 13th.

Aaron’s has a dividend payout ratio of 74.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Aaron’s to earn $0.65 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 76.9%.

Aaron’s Trading Up 0.7 %

AAN stock opened at $10.04 on Wednesday. Aaron’s has a one year low of $6.62 and a one year high of $13.98. The company has a market capitalization of $316.48 million, a PE ratio of -12.71 and a beta of 1.43. The company’s 50 day moving average price is $9.47 and its two-hundred day moving average price is $8.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.72 and a current ratio of 1.03.

Aaron’s (NYSE:AAN) last issued its earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Aaron’s had a positive return on equity of 0.02% and a negative net margin of 1.15%. The business had revenue of $503.10 million during the quarter, compared to analysts’ expectations of $513.91 million. During the same quarter in the previous year, the business earned $0.39 EPS. Aaron’s’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, analysts predict that Aaron’s will post 0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AAN has been the subject of several analyst reports. TD Cowen increased their target price on Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a report on Monday, June 17th. Jefferies Financial Group reissued a “hold” rating and set a $10.10 price objective (down previously from $11.00) on shares of Aaron’s in a research note on Wednesday, July 10th. Truist Financial raised their target price on shares of Aaron’s from $8.00 to $10.10 and gave the stock a “hold” rating in a report on Tuesday, June 18th. Loop Capital upped their price target on shares of Aaron’s from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, June 18th. Finally, BTIG Research began coverage on shares of Aaron’s in a research report on Friday, June 7th. They set a “neutral” rating for the company. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Aaron’s currently has an average rating of “Hold” and an average target price of $9.46.

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.