Aaron’s, Inc. (AAN) Announces $0.03 Quarterly Dividend
Aaron’s, Inc. (NYSE:AAN) announced a quarterly dividend on Tuesday, August 15th, Zacks reports. Shareholders of record on Friday, September 15th will be given a dividend of 0.027 per share on Monday, October 2nd. This represents a $0.11 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Thursday, September 14th.
Aaron’s, has increased its dividend by an average of 25.2% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Aaron’s, has a payout ratio of 4.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Aaron’s, to earn $3.02 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 3.6%.
Aaron’s, (NYSE AAN) traded up 0.033% during mid-day trading on Wednesday, reaching $45.255. The company’s stock had a trading volume of 134,692 shares. Aaron’s, has a one year low of $22.37 and a one year high of $48.22. The stock has a 50-day moving average price of $41.50 and a 200-day moving average price of $34.75. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 23.255 and a beta of 0.17.
Aaron’s, (NYSE:AAN) last released its quarterly earnings data on Friday, July 28th. The company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.10. The business had revenue of $815.60 million during the quarter, compared to analyst estimates of $786.12 million. Aaron’s, had a return on equity of 12.00% and a net margin of 4.36%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. Equities research analysts forecast that Aaron’s, will post $2.56 EPS for the current year.
AAN has been the subject of several recent analyst reports. Jefferies Group LLC restated a “buy” rating on shares of Aaron’s, in a research note on Sunday, July 30th. BidaskClub lowered Aaron’s, from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. Northcoast Research restated a “buy” rating and issued a $52.50 price target (up previously from $45.00) on shares of Aaron’s, in a research note on Monday, July 31st. Loop Capital restated a “hold” rating and issued a $28.00 price target on shares of Aaron’s, in a research note on Sunday, April 23rd. Finally, Zacks Investment Research upgraded Aaron’s, from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research note on Tuesday, May 2nd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $42.50.
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In related news, CEO John W. Robinson sold 15,000 shares of Aaron’s, stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $46.11, for a total value of $691,650.00. Following the sale, the chief executive officer now directly owns 348,440 shares in the company, valued at approximately $16,066,568.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven A. Michaels sold 5,000 shares of Aaron’s, stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $46.26, for a total value of $231,300.00. Following the completion of the sale, the chief financial officer now owns 61,095 shares in the company, valued at $2,826,254.70. The disclosure for this sale can be found here. Insiders own 1.93% of the company’s stock.
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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