Research Analysts Set Expectations for AAON, Inc.’s FY2023 Earnings (NASDAQ:AAON)

AAON, Inc. (NASDAQ:AAON) – Analysts at DA Davidson increased their FY2023 earnings estimates for shares of AAON in a research report issued to clients and investors on Wednesday, November 8th. DA Davidson analyst B. Thielman now anticipates that the construction company will earn $2.09 per share for the year, up 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 $2.29 EPS.

Separately, StockNews.com initiated coverage on AAON in a report on Thursday, October 5th. They issued a “hold” rating for the company.

AAON Stock Up 2.2 %

AAON stock opened at $58.71 on Friday. AAON has a 12 month low of $46.87 and a 12 month high of $71.39. The company has a current ratio of 3.03, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 28.69 and a beta of 0.84. The firm has a 50-day moving average of $58.06 and a two-hundred day moving average of $50.01.

AAON (NASDAQ:AAON) last announced its earnings results on Monday, November 6th. The construction company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. The business had revenue of $311.97 million during the quarter, compared to analysts’ expectations of $294.63 million. AAON had a return on equity of 27.79% and a net margin of 15.18%. The business’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 earnings per share.

Hedge Funds Weigh In On AAON

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAON. Acadian Asset Management LLC acquired a new position in AAON during the 1st quarter worth $26,000. IFP Advisors Inc purchased a new position in shares of AAON in the 2nd quarter valued at about $26,000. Group One Trading L.P. acquired a new position in shares of AAON during the first quarter worth about $39,000. Ameritas Advisory Services LLC purchased a new stake in shares of AAON during the first quarter worth approximately $40,000. Finally, First Horizon Advisors Inc. raised its holdings in AAON by 53.4% in the third quarter. First Horizon Advisors Inc. now owns 701 shares of the construction company’s stock valued at $40,000 after acquiring an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 47.89% of the company’s stock.

Insider Buying and Selling

In other AAON news, VP Gordon Douglas Wichman sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $66.11, for a total value of $396,660.00. Following the sale, the vice president now owns 6,922 shares of the company’s stock, valued at $457,613.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Robert Teis sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $65.80, for a total value of $138,180.00. Following the completion of the transaction, the vice president now owns 13,684 shares of the company’s stock, valued at $900,407.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Gordon Douglas Wichman sold 6,000 shares of AAON stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $66.11, for a total transaction of $396,660.00. Following the completion of the transaction, the vice president now owns 6,922 shares of the company’s stock, valued at approximately $457,613.42. The disclosure for this sale can be found here. 19.16% of the stock is currently owned by corporate insiders.

AAON Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were issued a $0.08 dividend. This is a positive change from AAON’s previous quarterly dividend of $0.05. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Thursday, September 7th. AAON’s dividend payout ratio is currently 15.64%.

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.