Wall Street brokerages forecast that Aaron’s, Inc. (NYSE:AAN) will announce $924.61 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Aaron’s’ earnings. The highest sales estimate is $958.42 million and the lowest is $910.10 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 firm is scheduled to report its next earnings report on Friday, July 27th.
On average, analysts expect that Aaron’s will report full year sales of $3.81 billion for the current financial year, with estimates ranging from $3.75 billion to $3.87 billion. For the next fiscal year, analysts anticipate that the business will report sales of $4.17 billion per share, with estimates ranging from $4.03 billion to $4.42 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Aaron’s.
Aaron’s (NYSE:AAN) last released its earnings results on Thursday, April 26th. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.14). The company had revenue of $954.81 million for the quarter, compared to analysts’ expectations of $926.74 million. Aaron’s had a return on equity of 11.22% and a net margin of 8.34%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS.
In other news, CFO Steven A. Michaels sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $42.56, for a total value of $425,600.00. Following the transaction, the chief financial officer now directly owns 66,835 shares in the company, valued at approximately $2,844,497.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Robert W. Kamerschen sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $42.38, for a total transaction of $84,760.00. Following the completion of the transaction, the chief accounting officer now owns 38,929 shares in the company, valued at $1,649,811.02. The disclosure for this sale can be found here. Insiders sold a total of 39,500 shares of company stock worth $1,673,785 over the last quarter. 2.28% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of AAN. Signaturefd LLC acquired a new position in shares of Aaron’s in the 1st quarter worth approximately $103,000. Verity Asset Management Inc. purchased a new stake in Aaron’s during the 4th quarter worth approximately $202,000. Zeke Capital Advisors LLC purchased a new stake in Aaron’s during the 1st quarter worth approximately $205,000. Jefferies Group LLC purchased a new stake in Aaron’s during the 4th quarter worth approximately $211,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in Aaron’s during the 4th quarter worth approximately $239,000.
Shares of AAN stock traded up $0.03 on Monday, reaching $44.00. 443,461 shares of the company were exchanged, compared to its average volume of 755,061. The stock has a market capitalization of $2.98 billion, a P/E ratio of 17.30 and a beta of 0.06. The company has a quick ratio of 0.86, a current ratio of 2.74 and a debt-to-equity ratio of 0.20. Aaron’s has a 1 year low of $34.29 and a 1 year high of $49.77.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 6th. Shareholders of record on Tuesday, June 19th will be issued a $0.03 dividend. The ex-dividend date is Monday, June 18th. This represents a $0.12 annualized dividend and a yield of 0.27%. Aaron’s’s payout ratio is 4.69%.
Aaron’s declared that its board has authorized 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 purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is 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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