The Aaron’s Company, Inc. (AAN) to Issue Quarterly Dividend of $0.13 on October 3rd

The Aaron’s Company, Inc. (NYSE:AAN) declared a quarterly dividend on Monday, August 5th, Wall Street Journal reports. Stockholders of record on Friday, September 13th will be given a dividend of 0.125 per share on Thursday, October 3rd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Friday, September 13th.

Aaron’s has a dividend payout ratio of 74.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Aaron’s to earn $0.65 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 76.9%.

Aaron’s Trading Up 0.7 %

AAN opened at $10.04 on Wednesday. The business has a 50 day simple moving average of $9.47 and a two-hundred day simple moving average of $8.64. The firm has a market capitalization of $316.48 million, a price-to-earnings ratio of -12.71 and a beta of 1.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.03 and a quick ratio of 0.72. Aaron’s has a one year low of $6.62 and a one year high of $13.98.

Aaron’s (NYSE:AAN) last issued its earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). The business had revenue of $503.10 million for the quarter, compared to analysts’ expectations of $513.91 million. Aaron’s had a negative net margin of 1.15% and a positive return on equity of 0.02%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 earnings per share. Analysts predict that Aaron’s will post 0.12 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on AAN. Truist Financial lifted their price target on Aaron’s from $8.00 to $10.10 and gave the stock a “hold” rating in a research report on Tuesday, June 18th. TD Cowen raised their target price on shares of Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a research report on Monday, June 17th. StockNews.com began coverage on shares of Aaron’s in a research report on Tuesday. They set a “hold” rating on the stock. Jefferies Financial Group reissued a “hold” rating and set a $10.10 target price (down previously from $11.00) on shares of Aaron’s in a research report on Wednesday, July 10th. Finally, Loop Capital lifted their target price on shares of Aaron’s from $8.00 to $10.00 and gave the stock a “hold” rating in a research note on Tuesday, June 18th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.46.

Aaron’s Company Profile

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.