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

Aaron’s (NYSE:AAN) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $0.00-0.25 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Truist Financial dropped their price target on shares of Aaron’s from $9.00 to $8.00 and set a hold rating on the stock in a research note on Wednesday. Stifel Nicolaus reiterated a hold rating and issued a $7.00 price objective on shares of Aaron’s in a report on Monday, March 11th. TD Cowen assumed coverage on shares of Aaron’s in a report on Friday, March 8th. They issued a market perform rating and a $7.00 price objective for the company. Finally, StockNews.com upgraded shares of Aaron’s from a hold rating to a buy rating in a report on Saturday, April 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $11.50.

Aaron’s Price Performance

NYSE:AAN traded up $0.27 during trading hours on Wednesday, reaching $7.56. 309,167 shares of the company’s stock were exchanged, compared to its average volume of 265,161. The company has a market capitalization of $237.87 million, a P/E ratio of -9.56 and a beta of 1.31. Aaron’s has a 12 month low of $6.62 and a 12 month high of $16.16. 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 business’s 50-day simple moving average is $7.22 and its two-hundred day simple moving average is $8.89.

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

Aaron’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Friday, June 14th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date of this dividend is Friday, June 14th. Aaron’s’s dividend payout ratio is -63.29%.

Aaron’s Company Profile

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.