The Aaron’s Company, Inc. Announces Quarterly Dividend of $0.11 (NYSE:AAN)

The Aaron’s Company, Inc. (NYSE:AANGet Rating) announced a quarterly dividend on Wednesday, May 4th, Zacks reports. Stockholders of record on Thursday, June 16th will be paid a dividend of 0.112 per share on Tuesday, July 5th. This represents a $0.45 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, June 15th.

Aaron’s has raised its dividend payment by an average of 47.4% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Aaron’s has a dividend payout ratio of 14.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Aaron’s to earn $3.10 per share next year, which means the company should continue to be able to cover its $0.45 annual dividend with an expected future payout ratio of 14.5%.

Shares of Aaron’s stock opened at $21.08 on Friday. The company has a market cap of $647.37 million, a PE ratio of 7.37 and a beta of 0.59. Aaron’s has a 52 week low of $18.26 and a 52 week high of $37.49. The business has a 50 day moving average price of $21.40 and a 200-day moving average price of $22.92.

Aaron’s (NYSE:AANGet Rating) last released its earnings results on Monday, April 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.19. The company had revenue of $456.10 million during the quarter, compared to analyst estimates of $463.47 million. Aaron’s had a return on equity of 15.25% and a net margin of 5.23%. Aaron’s’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. Equities analysts expect that Aaron’s will post 2.74 EPS for the current fiscal year.

Separately, StockNews.com started coverage on Aaron’s in a report on Thursday, March 31st. They issued a “buy” rating for the company.

Several hedge funds have recently added to or reduced their stakes in AAN. Morgan Stanley grew its holdings in shares of Aaron’s by 146.0% in the second quarter. Morgan Stanley now owns 217,181 shares of the company’s stock valued at $6,949,000 after acquiring an additional 128,896 shares in the last quarter. Citigroup Inc. grew its holdings in Aaron’s by 63.0% during the fourth quarter. Citigroup Inc. now owns 29,745 shares of the company’s stock valued at $733,000 after purchasing an additional 11,502 shares during the period. Renaissance Technologies LLC bought a new position in Aaron’s during the fourth quarter valued at $2,048,000. Invesco Ltd. grew its holdings in Aaron’s by 0.4% during the fourth quarter. Invesco Ltd. now owns 251,315 shares of the company’s stock valued at $6,196,000 after purchasing an additional 881 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in Aaron’s by 3.9% during the fourth quarter. Nuveen Asset Management LLC now owns 414,877 shares of the company’s stock valued at $10,227,000 after purchasing an additional 15,605 shares during the period. 93.93% of the stock is owned by institutional investors.

Aaron’s Company Profile (Get Rating)

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.

See Also

Dividend History for Aaron's (NYSE:AAN)

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