Aaron’s, Inc. (AAN) Expected to Announce Quarterly Sales of $924.61 Million
Brokerages forecast that Aaron’s, Inc. (NYSE:AAN) will post sales of $924.61 million for the current quarter, Zacks reports. Seven analysts have issued estimates for Aaron’s’ earnings, with estimates ranging from $910.10 million to $958.42 million. Aaron’s reported sales of $815.64 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.4%. The business is scheduled to report its next quarterly earnings results on Friday, July 27th.
According to Zacks, analysts expect that Aaron’s will report full-year sales of $3.81 billion for the current year, with estimates ranging from $3.75 billion to $3.87 billion. For the next financial year, analysts expect that the company will report sales of $4.17 billion per share, with estimates ranging from $4.03 billion to $4.42 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Aaron’s.
Aaron’s (NYSE:AAN) last announced its earnings results on Thursday, April 26th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.14). Aaron’s had a return on equity of 11.22% and a net margin of 8.34%. The company had revenue of $954.81 million for the quarter, compared to the consensus estimate of $926.74 million. During the same period in the previous year, the company earned $0.80 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year.
In related news, insider Curtis Linn Doman sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $42.27, for a total value of $634,050.00. Following the transaction, the insider now owns 102,523 shares in the company, valued at $4,333,647.21. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Robert W. Kamerschen sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $42.38, for a total value of $84,760.00. Following the completion of the transaction, the chief accounting officer now owns 38,929 shares in the company, valued at approximately $1,649,811.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,500 shares of company stock worth $1,673,785. 2.28% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of AAN. LPL Financial LLC increased its stake in shares of Aaron’s by 8.1% in the first quarter. LPL Financial LLC now owns 16,479 shares of the company’s stock valued at $768,000 after buying an additional 1,238 shares during the period. Affinity Investment Advisors LLC increased its position in Aaron’s by 21.3% in the first quarter. Affinity Investment Advisors LLC now owns 8,318 shares of the company’s stock worth $388,000 after buying an additional 1,459 shares during the last quarter. ING Groep NV increased its position in Aaron’s by 23.3% in the fourth quarter. ING Groep NV now owns 9,396 shares of the company’s stock worth $374,000 after buying an additional 1,773 shares during the last quarter. Great West Life Assurance Co. Can increased its position in Aaron’s by 5.1% in the first quarter. Great West Life Assurance Co. Can now owns 37,559 shares of the company’s stock worth $1,751,000 after buying an additional 1,814 shares during the last quarter. Finally, Signaturefd LLC purchased a new stake in Aaron’s in the first quarter worth $103,000.
Aaron’s traded up $0.03, hitting $44.00, during midday trading on Monday, Marketbeat Ratings reports. The stock had a trading volume of 443,461 shares, compared to its average volume of 755,061. The stock has a market cap of $2.98 billion, a P/E ratio of 17.30 and a beta of 0.06. Aaron’s has a 52 week low of $34.29 and a 52 week high of $49.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.74 and a quick ratio of 0.86.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 6th. Investors of record on Tuesday, June 19th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Monday, June 18th. Aaron’s’s dividend payout ratio is 4.69%.
Aaron’s declared that its board has initiated a stock repurchase plan on Thursday, February 15th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Aaron’s Company Profile
Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions. It operates through three segments: Progressive Leasing, Aaron's Business, and DAMI. The company engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.
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