Aaron’s, Inc. (AAN) Expected to Post Quarterly Sales of $991.76 Million
Analysts expect that Aaron’s, Inc. (NYSE:AAN) will post $991.76 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Aaron’s’ earnings, with the highest sales estimate coming in at $1.02 billion and the lowest estimate coming in at $973.40 million. Aaron’s reported sales of $884.63 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.1%. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 21st.
On average, analysts expect that Aaron’s will report full-year sales of $3.83 billion for the current financial year, with estimates ranging from $3.81 billion to $3.85 billion. For the next fiscal year, analysts expect that the company will post sales of $4.23 billion, with estimates ranging from $4.12 billion to $4.41 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Aaron’s.
Aaron’s (NYSE:AAN) last announced its quarterly earnings data on Thursday, October 25th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). The firm had revenue of $953.07 million during the quarter, compared to analysts’ expectations of $948.48 million. Aaron’s had a net margin of 8.39% and a return on equity of 12.22%.
AAN stock traded down $0.73 during midday trading on Monday, reaching $46.80. The stock had a trading volume of 479,577 shares, compared to its average volume of 605,027. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.55 and a current ratio of 2.43. The firm has a market capitalization of $3.26 billion, a P/E ratio of 18.28 and a beta of 0.25. Aaron’s has a 52-week low of $35.62 and a 52-week high of $56.00.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Shareholders of record on Thursday, December 20th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Wednesday, December 19th. This is an increase from Aaron’s’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.30%. Aaron’s’s dividend payout ratio (DPR) is 4.69%.
In other Aaron’s news, insider Curtis Linn Doman sold 5,000 shares of the firm’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the sale, the insider now directly owns 62,523 shares of the company’s stock, valued at approximately $3,126,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan K. Woodley sold 12,500 shares of the firm’s stock in a transaction on Monday, October 29th. The stock was sold at an average price of $45.20, for a total value of $565,000.00. The disclosure for this sale can be found here. Insiders sold a total of 17,904 shares of company stock valued at $836,008 over the last ninety days. Corporate insiders own 2.28% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in shares of Aaron’s by 5.7% during the 3rd quarter. BlackRock Inc. now owns 7,856,974 shares of the company’s stock worth $427,892,000 after purchasing an additional 422,488 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Aaron’s by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,720,319 shares of the company’s stock worth $365,989,000 after purchasing an additional 100,211 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Aaron’s by 88.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 2,601,402 shares of the company’s stock worth $113,031,000 after purchasing an additional 1,219,143 shares during the last quarter. Northern Trust Corp increased its position in shares of Aaron’s by 9.0% during the 2nd quarter. Northern Trust Corp now owns 1,646,905 shares of the company’s stock worth $71,558,000 after purchasing an additional 135,616 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its position in shares of Aaron’s by 10.9% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,333,166 shares of the company’s stock worth $58,393,000 after purchasing an additional 131,115 shares during the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.
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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