FY2023 Earnings Estimate for AAON, Inc. Issued By DA Davidson (NASDAQ:AAON)

AAON, Inc. (NASDAQ:AAON) – DA Davidson lowered their FY2023 earnings per share (EPS) estimates for shares of AAON in a research report issued on Tuesday, September 5th. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings per share of $2.05 for the year, down from their previous forecast of $2.05. The consensus estimate for AAON’s current full-year earnings is $2.05 per share. DA Davidson also issued estimates for AAON’s FY2024 earnings at $2.26 EPS.

AAON (NASDAQ:AAON) last announced its earnings results on Thursday, August 3rd. The construction company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.08. AAON had a return on equity of 25.30% and a net margin of 14.22%. The firm had revenue of $283.96 million for the quarter, compared to analysts’ expectations of $276.08 million. During the same quarter in the prior year, the firm earned $0.13 EPS. AAON’s quarterly revenue was up 36.0% on a year-over-year basis.

Separately, StockNews.com started coverage on AAON in a report on Thursday, August 17th. They issued a “hold” rating on the stock.

AAON Price Performance

AAON stock opened at $65.70 on Thursday. AAON has a 52-week low of $34.70 and a 52-week high of $71.39. The stock’s fifty day simple moving average is $50.92 and its 200-day simple moving average is $44.69. The company has a quick ratio of 1.36, a current ratio of 2.76 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 36.37 and a beta of 0.83.

AAON Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.49%. This is a positive change from AAON’s previous quarterly dividend of $0.05. The ex-dividend date is Thursday, September 7th. AAON’s payout ratio is presently 17.71%.

Insider Transactions at AAON

In related news, CEO Gary D. Fields sold 67,500 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $41.69, for a total value of $2,814,000.00. Following the completion of the sale, the chief executive officer now directly owns 89,389 shares of the company’s stock, valued at $3,726,528.09. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other AAON news, CEO Gary D. Fields sold 67,500 shares of AAON stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $41.69, for a total value of $2,814,000.00. Following the completion of the transaction, the chief executive officer now directly owns 89,389 shares in the company, valued at $3,726,528.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Robert Teis sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $65.80, for a total value of $138,180.00. Following the transaction, the vice president now owns 13,684 shares of the company’s stock, valued at $900,407.20. The disclosure for this sale can be found here. Corporate insiders own 19.16% of the company’s stock.

Institutional Investors Weigh In On AAON

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in AAON by 23.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 554 shares of the construction company’s stock worth $54,000 after purchasing an additional 105 shares in the last quarter. Creative Planning raised its holdings in AAON by 1.4% during the second quarter. Creative Planning now owns 7,530 shares of the construction company’s stock worth $714,000 after purchasing an additional 106 shares in the last quarter. Global Retirement Partners LLC raised its holdings in AAON by 26.2% during the first quarter. Global Retirement Partners LLC now owns 515 shares of the construction company’s stock worth $50,000 after purchasing an additional 107 shares in the last quarter. Huntington National Bank raised its holdings in AAON by 20.6% during the second quarter. Huntington National Bank now owns 651 shares of the construction company’s stock worth $62,000 after purchasing an additional 111 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its holdings in AAON by 2.2% during the first quarter. Vestmark Advisory Solutions Inc. now owns 6,235 shares of the construction company’s stock worth $603,000 after purchasing an additional 137 shares in the last quarter. Institutional investors own 47.89% of the company’s stock.

AAON Company Profile

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.