Aaron’s, Inc. (AAN) Expected to Post Quarterly Sales of $831.17 Million
Equities research analysts expect Aaron’s, Inc. (NYSE:AAN) to report sales of $831.17 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Aaron’s, ‘s earnings. The lowest sales estimate is $824.40 million and the highest is $840.07 million. Aaron’s, reported sales of $768.98 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.1%. The company is scheduled to announce its next quarterly earnings report on Friday, October 27th.
According to Zacks, analysts expect that Aaron’s, will report full-year sales of $831.17 million for the current year, with estimates ranging from $3.34 billion to $3.39 billion. For the next year, analysts expect that the business will report sales of $3.65 billion per share, with estimates ranging from $3.57 billion to $3.76 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Aaron’s, .
Aaron’s, (NYSE:AAN) last posted its quarterly earnings results on Friday, July 28th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.10. Aaron’s, had a return on equity of 12.00% and a net margin of 4.36%. The firm had revenue of $815.60 million during the quarter, compared to the consensus estimate of $786.12 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year.
A number of analysts have recently issued reports on the company. Off Wall Street assumed coverage on Aaron’s, in a report on Monday. They issued a “sell” rating for the company. Northcoast Research restated a “buy” rating and issued a $52.50 target price (up previously from $45.00) on shares of Aaron’s, in a report on Monday, July 31st. SunTrust Banks, Inc. restated a “buy” rating on shares of Aaron’s, in a report on Monday, July 31st. Stifel Nicolaus restated a “buy” rating and issued a $55.00 target price on shares of Aaron’s, in a report on Friday, September 1st. Finally, Jefferies Group LLC restated a “buy” rating on shares of Aaron’s, in a report on Sunday, July 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $44.21.
In related news, insider Curtis Linn Doman sold 30,000 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $43.35, for a total transaction of $1,300,500.00. Following the completion of the sale, the insider now directly owns 101,775 shares in the company, valued at $4,411,946.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert P. Sinclair, Jr. sold 1,000 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the insider now owns 11,469 shares of the company’s stock, valued at $516,105. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,776 shares of company stock valued at $2,742,507. 1.93% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Meadow Creek Investment Management LLC raised its holdings in shares of Aaron’s, by 5.0% during the first quarter. Meadow Creek Investment Management LLC now owns 3,556 shares of the company’s stock worth $106,000 after acquiring an additional 168 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Aaron’s, by 1.9% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 11,178 shares of the company’s stock worth $245,000 after buying an additional 210 shares during the last quarter. UBS Group AG increased its position in Aaron’s, by 0.6% during the first quarter. UBS Group AG now owns 44,095 shares of the company’s stock worth $1,311,000 after buying an additional 255 shares during the last quarter. State Treasurer State of Michigan increased its position in Aaron’s, by 1.2% during the first quarter. State Treasurer State of Michigan now owns 25,900 shares of the company’s stock worth $770,000 after buying an additional 300 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in Aaron’s, by 1.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 22,664 shares of the company’s stock worth $674,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.
Shares of Aaron’s, (NYSE:AAN) opened at 38.41 on Tuesday. Aaron’s, has a 52-week low of $22.37 and a 52-week high of $48.22. The stock has a market cap of $2.72 billion, a P/E ratio of 19.74 and a beta of 0.18. The firm’s 50-day moving average price is $44.05 and its 200-day moving average price is $37.12.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.027 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.11 annualized dividend and a dividend yield of 0.28%. Aaron’s, ‘s dividend payout ratio is 5.64%.
Aaron’s, Company Profile
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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