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

Aaron’s (NYSE:AAN) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.00-0.25 for the period, compared to the consensus earnings per share 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 equities analysts recently issued reports on AAN shares. StockNews.com raised Aaron’s from a hold rating to a buy rating in a report on Saturday, April 6th. TD Cowen started coverage on shares of Aaron’s in a research report on Friday, March 8th. They issued a market perform rating and a $7.00 target price on the stock. Truist Financial reduced their price target on shares of Aaron’s from $12.00 to $9.00 and set a hold rating for the company in a research report on Wednesday, February 28th. Finally, 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Aaron’s presently has an average rating of Hold and a consensus target price of $11.67.

Aaron’s Stock Performance

NYSE:AAN traded up $0.14 during trading hours on Tuesday, reaching $7.16. 104,695 shares of the company’s stock were exchanged, compared to its average volume of 260,673. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $225.47 million, a price-to-earnings ratio of 88.25 and a beta of 1.31. Aaron’s has a 1-year low of $6.62 and a 1-year high of $16.16. The company has a 50-day moving average of $7.26 and a 200 day moving average of $8.91.

Aaron’s (NYSE:AAN) last announced its earnings results on Monday, May 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The business had revenue of $511.50 million for the quarter, compared to analyst estimates of $521.05 million. Aaron’s had a return on equity of 3.59% and a net margin of 0.13%. Aaron’s’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.66 EPS. Research analysts anticipate that Aaron’s will post 0.08 EPS for the current year.

Aaron’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Thursday, March 14th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 6.98%. The ex-dividend date was Wednesday, March 13th. Aaron’s’s dividend payout ratio (DPR) is presently 625.00%.

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.