Aaron’s, Inc. (AAN) Issues Quarterly Earnings Results
Aaron’s, Inc. (NYSE:AAN) posted its earnings results on Friday. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.10, MarketWatch Earnings reports. The company had revenue of $815.60 million during the quarter, compared to analysts’ expectations of $786.12 million. Aaron’s, had a return on equity of 11.81% and a net margin of 4.47%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. Aaron’s, updated its FY17 guidance to $2.45-2.65 EPS.
Shares of Aaron’s, (NYSE AAN) traded up 17.04% during midday trading on Friday, hitting $47.54. The stock had a trading volume of 3,974,838 shares. The stock has a 50-day moving average price of $39.22 and a 200-day moving average price of $33.49. Aaron’s, has a 12-month low of $21.50 and a 12-month high of $47.54. The stock has a market cap of $3.36 billion, a P/E ratio of 24.43 and a beta of 0.14.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Tuesday, June 27th were paid a $0.0275 dividend. The ex-dividend date was Friday, June 23rd. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.23%. Aaron’s, ‘s payout ratio is presently 5.64%.
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Several equities research analysts have issued reports on the company. Jefferies Group LLC reissued a “buy” rating and set a $42.00 target price on shares of Aaron’s, in a research note on Sunday. Stifel Nicolaus reissued a “buy” rating and set a $40.00 target price on shares of Aaron’s, in a research note on Sunday. BidaskClub cut Aaron’s, from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. Zacks Investment Research raised Aaron’s, from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research note on Tuesday, May 2nd. Finally, TheStreet raised Aaron’s, from a “c+” rating to a “b-” rating in a research note on Monday, April 24th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $38.33.
In related news, CEO John W. Robinson sold 15,000 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $36.80, for a total value of $552,000.00. Following the transaction, the chief executive officer now directly owns 363,440 shares of the company’s stock, valued at approximately $13,374,592. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $186,950.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,999 shares in the company, valued at $1,196,442.61. The disclosure for this sale can be found here. Company insiders own 1.93% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors LLC raised its position in shares of Aaron’s, by 14.5% in the fourth quarter. Teachers Advisors LLC now owns 453,416 shares of the company’s stock valued at $14,505,000 after buying an additional 57,440 shares during the period. Hancock Holding Co. raised its position in shares of Aaron’s, by 18.9% in the first quarter. Hancock Holding Co. now owns 314,600 shares of the company’s stock valued at $9,356,000 after buying an additional 50,000 shares during the period. United Services Automobile Association purchased a new position in shares of Aaron’s, during the first quarter valued at $493,000. Ameriprise Financial Inc. raised its position in shares of Aaron’s, by 140.7% in the first quarter. Ameriprise Financial Inc. now owns 1,100,484 shares of the company’s stock valued at $32,729,000 after buying an additional 643,365 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of Aaron’s, during the first quarter valued at $688,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.
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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