Jefferies Group Comments on Aaron’s Inc.’s Q3 2016 Earnings (AAN)
Aaron’s Inc. (NYSE:AAN) – Analysts at Jefferies Group issued their Q3 2016 earnings per share estimates for Aaron’s in a research report issued on Thursday. Jefferies Group analyst K. Joseph expects that the firm will earn $0.47 per share for the quarter. Jefferies Group has a “Buy” rating and a $30.00 price objective on the stock. Jefferies Group also issued estimates for Aaron’s’ Q4 2016 earnings at $0.48 EPS, FY2016 earnings at $2.24 EPS, Q1 2017 earnings at $0.77 EPS, Q2 2017 earnings at $0.67 EPS, Q3 2017 earnings at $0.52 EPS, Q4 2017 earnings at $0.53 EPS, FY2017 earnings at $2.49 EPS, Q1 2018 earnings at $0.83 EPS, Q2 2018 earnings at $0.78 EPS, Q3 2018 earnings at $0.58 EPS and FY2018 earnings at $2.74 EPS.
Aaron’s (NYSE:AAN) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Aaron’s had a return on equity of 11.01% and a net margin of 4.15%. The company earned $789.40 million during the quarter, compared to analyst estimates of $809.16 million. During the same quarter last year, the firm posted $0.61 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis.
Several other equities research analysts have also recently weighed in on AAN. Zacks Investment Research cut Aaron’s from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. TheStreet raised Aaron’s from a “hold” rating to a “buy” rating in a research note on Thursday, September 1st. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $29.93.
Shares of Aaron’s (NYSE:AAN) opened at 22.76 on Monday. The company has a 50-day moving average price of $24.75 and a 200 day moving average price of $24.50. Aaron’s has a one year low of $20.24 and a one year high of $38.85. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 12.43 and a beta of 0.23.
Large investors have recently added to or reduced their stakes in the company. Springbok Capital Management LLC bought a new stake in Aaron’s during the first quarter valued at approximately $916,000. Jacobs Levy Equity Management Inc. bought a new stake in Aaron’s during the first quarter valued at approximately $1,266,000. AMP Capital Investors Ltd bought a new stake in Aaron’s during the first quarter valued at approximately $253,000. Bogle Investment Management L P DE bought a new stake in Aaron’s during the first quarter valued at approximately $1,413,000. Finally, Meeder Asset Management Inc. increased its stake in Aaron’s by 132.6% in the first quarter. Meeder Asset Management Inc. now owns 44,538 shares of the company’s stock valued at $1,117,000 after buying an additional 25,392 shares during the period. 92.00% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Robert H. Yanker bought 40,000 shares of the company’s stock in a transaction on Friday, August 19th. The shares were acquired at an average cost of $25.29 per share, with a total value of $1,011,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.12% of the stock is owned by company insiders.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Wednesday, August 31st. Aaron’s’s dividend payout ratio (DPR) is 5.43%.
Aaron’s Company Profile
Aaron’s, Inc is a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. The Company’s operating segments include Sales and Lease Ownership, Progressive, HomeSmart, DAMI, Franchise, Manufacturing and Others. The Company’s store-based operations engage in the lease ownership and retail sale of a range of products, such televisions, computers, tablets, mobile phones, living room, dining room and bedroom furniture, mattresses, washers, dryers and refrigerators.
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