The Aaron’s Company, Inc. to Issue Quarterly Dividend of $0.13 (NYSE:AAN)

The Aaron’s Company, Inc. (NYSE:AAN) announced a quarterly dividend on Monday, August 5th, Wall Street Journal reports. Investors 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 yield of 4.96%. The ex-dividend date is Friday, September 13th.

Aaron’s has a dividend payout ratio of 86.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Aaron’s to earn $0.61 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 82.0%.

Aaron’s Price Performance

NYSE:AAN opened at $10.08 on Thursday. The company has a market cap of $317.74 million, a P/E ratio of -12.76 and a beta of 1.43. The firm’s fifty day moving average price is $10.02 and its two-hundred day moving average price is $8.58. Aaron’s has a one year low of $6.62 and a one year high of $11.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.02 and a quick ratio of 0.70.

Aaron’s (NYSE:AAN) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). The company had revenue of $503.10 million during the quarter, compared to analyst estimates of $513.91 million. Aaron’s had a negative net margin of 2.06% and a negative return on equity of 2.08%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company posted $0.39 EPS. Equities analysts expect that Aaron’s will post -0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. 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 report on Wednesday, July 10th. Loop Capital increased their target price on shares of Aaron’s from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, June 18th. StockNews.com assumed coverage on shares of Aaron’s in a research report on Saturday, September 7th. They issued a “hold” rating for the company. TD Cowen increased their price target on Aaron’s from $8.00 to $10.10 and gave the stock a “hold” rating in a research report on Monday, June 17th. Finally, Truist Financial lifted their price objective on Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a report on Tuesday, June 18th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.46.

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.