Aaron's (NYSE:AAN) Issues FY 2024 Earnings Guidance

Aaron's (NYSE:AAN - Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.000-0.250 for the period, compared to the consensus earnings per share estimate of 0.060. The company issued revenue guidance of $2.1 billion-$2.2 billion, compared to the consensus revenue estimate of $2.1 billion. Aaron's also updated its FY24 guidance to $0.00-0.25 EPS.

Aaron's Stock Up 1.1 %

NYSE AAN traded up $0.08 during mid-day trading on Monday, reaching $7.03. 135,232 shares of the company's stock traded hands, compared to its average volume of 262,546. Aaron's has a 1-year low of $6.69 and a 1-year high of $16.16. The company has a fifty day simple moving average of $7.26 and a 200-day simple moving average of $8.91. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.28. The company has a market cap of $221.22 million, a price-to-earnings ratio of 87.81 and a beta of 1.31.

Aaron's (NYSE:AAN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.29). The business had revenue of $529.50 million for the quarter, compared to analyst estimates of $542.07 million. Aaron's had a net margin of 0.13% and a return on equity of 3.59%. Aaron's's revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 EPS. As a group, equities research analysts expect that Aaron's will post 0.08 EPS for the current year.

Aaron's Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Thursday, March 14th were given a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.50 annualized dividend and a dividend yield of 7.12%. Aaron's's payout ratio is 625.00%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com upgraded Aaron's from a hold rating to a buy rating in a research report on Saturday, April 6th. Stifel Nicolaus restated a hold rating and set a $7.00 price objective on shares of Aaron's in a research report on Monday, March 11th. Truist Financial reduced their price objective on Aaron's from $12.00 to $9.00 and set a hold rating for the company in a research report on Wednesday, February 28th. Finally, TD Cowen assumed coverage on Aaron's in a research report on Friday, March 8th. They set a market perform rating and a $7.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Aaron's currently has a consensus rating of Hold and an average target price of $11.67.

About Aaron's

Headquartered in Atlanta, The Aaron's Company, Inc NYSE: AAN is a leading, technology-enabled, omnichannel provider of lease-purchase solutions. Aaron's engages in direct-to-consumer sales and lease ownership of furniture, appliances, consumer electronics and accessories through its approximately 1,300 company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform, Aarons.com.