Zacks: Brokerages Anticipate Aaron's, Inc. (AAN) Will Announce Earnings of $0.66 Per Share
Brokerages expect that Aaron's, Inc. (NYSE:AAN) will report $0.66 earnings per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Aaron's’ earnings. The highest EPS estimate is $0.70 and the lowest is $0.60. Aaron's reported earnings per share of $0.71 during the same quarter last year, which indicates a negative year over year growth rate of 7%. The business is scheduled to report its next earnings report before the market opens on Friday, April 28th.
On average, analysts expect that Aaron's will report full year earnings of $2.29 per share for the current year, with EPS estimates ranging from $2.22 to $2.35. For the next fiscal year, analysts anticipate that the business will report earnings of $2.55 per share, with EPS estimates ranging from $2.42 to $2.69. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Aaron's.
Aaron's (NYSE:AAN) last issued its earnings results on Friday, February 17th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.05. The firm earned $794.95 million during the quarter, compared to analysts’ expectations of $815.40 million. Aaron's had a net margin of 4.31% and a return on equity of 11.36%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share.
Several research analysts recently commented on AAN shares. Raymond James Financial, Inc. cut shares of Aaron's from a “strong-buy” rating to a “market perform” rating in a report on Thursday, January 19th. SunTrust Banks, Inc. upgraded shares of Aaron's from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Friday, January 20th. TheStreet cut shares of Aaron's from a “b” rating to a “c+” rating in a report on Friday, February 17th. Jefferies Group LLC restated a “buy” rating and set a $34.00 target price on shares of Aaron's in a report on Friday, March 3rd. Finally, Zacks Investment Research cut shares of Aaron's from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $33.67.
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In other Aaron's news, CEO John W. Robinson sold 13,750 shares of the stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $28.65, for a total value of $393,937.50. Following the completion of the sale, the chief executive officer now owns 378,440 shares in the company, valued at $10,842,306. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven A. Michaels sold 10,000 shares of the stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $28.81, for a total transaction of $288,100.00. Following the completion of the sale, the chief financial officer now owns 67,704 shares of the company’s stock, valued at approximately $1,950,552.24. The disclosure for this sale can be found here. Insiders have sold 27,750 shares of company stock valued at $803,318 in the last 90 days. 1.12% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in AAN. Dimensional Fund Advisors LP boosted its stake in shares of Aaron's by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,115,590 shares of the company’s stock worth $195,638,000 after buying an additional 122,162 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Aaron's by 6.1% in the third quarter. BlackRock Fund Advisors now owns 3,420,347 shares of the company’s stock worth $86,945,000 after buying an additional 195,526 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Aaron's by 1.4% in the third quarter. Northern Trust Corp now owns 1,448,735 shares of the company’s stock worth $36,827,000 after buying an additional 20,499 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Aaron's by 23.8% in the third quarter. D. E. Shaw & Co. Inc. now owns 1,387,052 shares of the company’s stock worth $35,259,000 after buying an additional 266,800 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Aaron's during the fourth quarter worth approximately $40,324,000. Hedge funds and other institutional investors own 96.20% of the company’s stock.
Shares of Aaron's (NYSE:AAN) traded down 0.90% during mid-day trading on Tuesday, reaching $30.71. 637,322 shares of the company were exchanged. The stock has a market capitalization of $2.20 billion, a P/E ratio of 16.08 and a beta of 0.27. Aaron's has a 12 month low of $20.50 and a 12 month high of $34.22. The firm has a 50-day moving average price of $29.26 and a 200 day moving average price of $28.86.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Wednesday, March 15th were issued a dividend of $0.0275 per share. This represents a $0.11 annualized dividend and a yield of 0.36%. The ex-dividend date was Monday, March 13th. Aaron's’s payout ratio is 5.76%.
Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.
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