The Aaron’s Company, Inc. (AAN) To Go Ex-Dividend on September 13th

The Aaron’s Company, Inc. (NYSE:AAN) announced a quarterly dividend on Monday, August 5th, Wall Street Journal reports. Shareholders 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 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend 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 research 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 Trading Down 0.0 %

NYSE AAN opened at $10.07 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $10.02 and a two-hundred day simple moving average of $8.57. The stock has a market cap of $317.25 million, a P/E ratio of -12.74 and a beta of 1.43. Aaron’s has a 12-month low of $6.62 and a 12-month high of $11.90.

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

Analysts Set New Price Targets

A number of research analysts recently commented on AAN shares. StockNews.com assumed coverage on Aaron’s in a report on Saturday. They issued a “hold” rating on the stock. Truist Financial upped their price target on Aaron’s from $8.00 to $10.10 and gave the stock a “hold” rating in a report on Tuesday, June 18th. TD Cowen increased their target price on Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a report on Monday, June 17th. BTIG Research began coverage on shares of Aaron’s in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $10.10 price target (down previously from $11.00) on shares of Aaron’s in a research note on Wednesday, July 10th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.