Aaron’s, Inc. (NYSE:AAN) announced a quarterly dividend on Monday, August 13th, Wall Street Journal reports. Shareholders of record on Thursday, September 20th will be paid a dividend of 0.03 per share on Friday, October 5th. This represents a $0.12 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Wednesday, September 19th.

Aaron’s has increased its dividend by an average of 9.4% per year over the last three years and has raised its dividend every year for the last 11 years. Aaron’s has a payout ratio of 3.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Aaron’s to earn $3.94 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 3.0%.

Shares of Aaron’s stock opened at $51.43 on Tuesday. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 20.09 and a beta of 0.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.60 and a quick ratio of 0.70. Aaron’s has a 12-month low of $34.29 and a 12-month high of $52.70.

Aaron’s (NYSE:AAN) last announced its earnings results on Thursday, July 26th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $927.90 million during the quarter, compared to analysts’ expectations of $924.86 million. Aaron’s had a return on equity of 11.54% and a net margin of 8.14%. The company’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. equities analysts predict that Aaron’s will post 3.41 EPS for the current fiscal year.

AAN has been the subject of a number of recent analyst reports. Zacks Investment Research cut Aaron’s from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. ValuEngine raised Aaron’s from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Northcoast Research reaffirmed a “buy” rating on shares of Aaron’s in a research report on Tuesday, July 24th. Stifel Nicolaus upped their target price on Aaron’s from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Finally, Raymond James reaffirmed a “buy” rating and set a $57.00 target price on shares of Aaron’s in a research report on Sunday, August 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $50.73.

In other news, EVP Robert W. Kamerschen sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $48.02, for a total value of $96,040.00. Following the completion of the sale, the executive vice president now directly owns 36,329 shares of the company’s stock, valued at $1,744,518.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Curtis Linn Doman sold 35,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $50.00, for a total value of $1,750,000.00. Following the completion of the sale, the insider now directly owns 67,523 shares of the company’s stock, valued at $3,376,150. The disclosure for this sale can be found here. Insiders sold 55,404 shares of company stock valued at $2,664,743 over the last three months. 2.28% of the stock is owned by company insiders.

Aaron’s Company Profile

Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions. It operates through three segments: Progressive Leasing, Aaron's Business, and DAMI. The company engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.

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Dividend History for Aaron`s (NYSE:AAN)

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