Aaron’s, Inc. (AAN) Expected to Announce Quarterly Sales of $831.17 Million
Brokerages expect Aaron’s, Inc. (NYSE:AAN) to report sales of $831.17 million for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Aaron’s, ‘s earnings, with estimates ranging from $824.40 million to $840.07 million. Aaron’s, posted sales of $768.98 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.1%. The firm is scheduled to issue its next quarterly earnings report on Friday, October 27th.
According to Zacks, analysts expect that Aaron’s, will report full year sales of $831.17 million for the current year, with estimates ranging from $3.34 billion to $3.39 billion. For the next year, analysts expect that the business will report sales of $3.65 billion per share, with estimates ranging from $3.57 billion to $3.76 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Aaron’s, .
Aaron’s, (NYSE:AAN) last announced its quarterly earnings data on Friday, July 28th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.10. Aaron’s, had a net margin of 4.36% and a return on equity of 12.00%. The firm had revenue of $815.60 million for the quarter, compared to analyst estimates of $786.12 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year.
AAN has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Aaron’s, from a “strong-buy” rating to a “buy” rating in a report on Friday, July 7th. Jefferies Group LLC reissued a “buy” rating and issued a $54.00 price target on shares of Aaron’s, in a report on Thursday, August 31st. Stifel Nicolaus reissued a “buy” rating and issued a $55.00 price target (up previously from $40.00) on shares of Aaron’s, in a report on Sunday, July 30th. Off Wall Street initiated coverage on shares of Aaron’s, in a report on Monday, September 18th. They issued a “sell” rating on the stock. Finally, SunTrust Banks, Inc. reissued a “buy” rating on shares of Aaron’s, in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Aaron’s, currently has a consensus rating of “Buy” and a consensus target price of $44.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a dividend of $0.027 per share. This represents a $0.11 annualized dividend and a yield of 0.28%. The ex-dividend date is Thursday, September 14th. Aaron’s, ‘s payout ratio is currently 5.64%.
In related news, insider Curtis Linn Doman sold 30,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $43.35, for a total transaction of $1,300,500.00. Following the sale, the insider now owns 101,775 shares of the company’s stock, valued at $4,411,946.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert P. Sinclair, Jr. sold 4,000 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $43.47, for a total transaction of $173,880.00. Following the sale, the insider now directly owns 12,469 shares in the company, valued at approximately $542,027.43. The disclosure for this sale can be found here. Insiders have sold 61,776 shares of company stock worth $2,742,507 in the last three months. 1.93% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC bought a new stake in Aaron’s, during the second quarter worth about $1,293,000. Cubist Systematic Strategies LLC bought a new stake in Aaron’s, during the second quarter worth about $211,000. State Street Corp boosted its stake in Aaron’s, by 6.8% during the second quarter. State Street Corp now owns 2,235,516 shares of the company’s stock worth $86,967,000 after acquiring an additional 142,599 shares in the last quarter. Intrinsic Edge Capital Management LLC bought a new stake in Aaron’s, during the second quarter worth about $3,793,000. Finally, Royal Bank of Canada boosted its stake in Aaron’s, by 48.3% during the second quarter. Royal Bank of Canada now owns 17,863 shares of the company’s stock worth $695,000 after acquiring an additional 5,816 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.
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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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