Aaron's, Inc. Announces Quarterly Dividend of $0.03 (AAN)
Aaron's, Inc. (NYSE:AAN) announced a quarterly dividend on Thursday, May 18th. Shareholders of record on Tuesday, June 27th will be paid a dividend of 0.0275 per share on Monday, July 3rd. This represents a $0.11 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, June 23rd.
Aaron's has raised its dividend by an average of 25.2% per year over the last three years and has increased its dividend every year for the last 10 years. Aaron's has a payout ratio of 4.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Aaron's to earn $2.68 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 4.1%.
Shares of Aaron's (NYSE:AAN) traded down 0.31% during midday trading on Thursday, reaching $34.95. The company’s stock had a trading volume of 928,620 shares. Aaron's has a one year low of $20.50 and a one year high of $37.67. The firm has a 50-day moving average of $32.66 and a 200-day moving average of $30.44. The stock has a market cap of $2.47 billion, a PE ratio of 17.77 and a beta of 0.27.
Aaron's (NYSE:AAN) last announced its quarterly earnings data on Friday, April 28th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.14. The firm had revenue of $844.60 million during the quarter, compared to the consensus estimate of $830.44 million. Aaron's had a return on equity of 11.36% and a net margin of 4.31%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. On average, analysts forecast that Aaron's will post $2.41 EPS for the current year.
In other news, CAO Robert W. Kamerschen sold 5,000 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $37.39, for a total transaction of $186,950.00. Following the completion of the transaction, the chief accounting officer now owns 31,999 shares in the company, valued at approximately $1,196,442.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert W. Kamerschen sold 4,000 shares of the stock in a transaction on Monday, April 17th. The stock was sold at an average price of $30.32, for a total value of $121,280.00. Following the transaction, the chief accounting officer now owns 36,999 shares of the company’s stock, valued at approximately $1,121,809.68. The disclosure for this sale can be found here. Insiders have sold a total of 47,750 shares of company stock valued at $1,542,268 in the last quarter. 1.12% of the stock is owned by corporate insiders.
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A number of research analysts have issued reports on AAN shares. Raymond James Financial, Inc. downgraded Aaron's from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, January 19th. Loop Capital restated a “hold” rating and issued a $28.00 price objective on shares of Aaron's in a research note on Sunday, April 23rd. Zacks Investment Research upgraded Aaron's from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, May 2nd. SunTrust Banks, Inc. upgraded Aaron's from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, January 20th. Finally, TheStreet downgraded Aaron's from a “b” rating to a “c+” rating in a research note on Friday, February 17th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Aaron's presently has a consensus rating of “Buy” and an average target price of $36.67.
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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