Aaron’s, Inc. (NYSE:AAN) – Research analysts at SunTrust Banks upped their FY2018 earnings per share estimates for shares of Aaron’s in a research note issued to investors on Thursday, October 25th. SunTrust Banks analyst W. Chappell now forecasts that the company will post earnings of $3.43 per share for the year, up from their prior estimate of $3.40. SunTrust Banks also issued estimates for Aaron’s’ Q4 2018 earnings at $1.08 EPS, Q2 2019 earnings at $0.94 EPS, Q4 2019 earnings at $1.27 EPS and FY2019 earnings at $3.97 EPS.
Several other research analysts have also commented on the company. Zacks Investment Research upgraded Aaron’s from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Wednesday, September 26th. ValuEngine upgraded Aaron’s from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Raymond James reiterated a “buy” rating and issued a $57.00 price target on shares of Aaron’s in a research report on Sunday, August 12th. Stifel Nicolaus lifted their price target on Aaron’s from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Finally, Loop Capital lifted their price target on Aaron’s to $59.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Aaron’s has a consensus rating of “Buy” and a consensus target price of $56.10.
Aaron’s (NYSE:AAN) last released its quarterly earnings results on Thursday, October 25th. The company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.06). The company had revenue of $953.07 million during the quarter, compared to analysts’ expectations of $948.48 million. Aaron’s had a return on equity of 12.22% and a net margin of 8.39%.
Large investors have recently made changes to their positions in the business. Mount Yale Investment Advisors LLC purchased a new position in shares of Aaron’s during the first quarter valued at approximately $130,000. Itau Unibanco Holding S.A. purchased a new position in shares of Aaron’s during the second quarter valued at approximately $170,000. Private Advisor Group LLC purchased a new stake in shares of Aaron’s in the second quarter valued at approximately $293,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Aaron’s in the second quarter valued at approximately $334,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Aaron’s in the first quarter valued at approximately $383,000.
In other Aaron’s news, CEO John W. Robinson sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $45.00, for a total transaction of $112,500.00. Following the completion of the transaction, the chief executive officer now owns 365,715 shares in the company, valued at $16,457,175. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Curtis Linn Doman sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $50.00, for a total value of $1,750,000.00. Following the transaction, the insider now owns 67,523 shares of the company’s stock, valued at approximately $3,376,150. The disclosure for this sale can be found here. Insiders have sold 42,904 shares of company stock valued at $2,127,118 in the last 90 days. Company insiders own 2.28% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 5th. Shareholders of record on Thursday, September 20th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, September 19th. This represents a $0.12 annualized dividend and a dividend yield of 0.27%. Aaron’s’s dividend payout ratio (DPR) is presently 4.69%.
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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