AAON, Inc. (NASDAQ:AAON) Forecasted to Earn Q2 2024 Earnings of $0.53 Per Share

AAON, Inc. (NASDAQ:AAON) – Investment analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of AAON in a research note issued to investors on Monday, May 6th. DA Davidson analyst B. Thielman anticipates that the construction company will earn $0.53 per share for the quarter. The consensus estimate for AAON’s current full-year earnings is $2.27 per share. DA Davidson also issued estimates for AAON’s FY2024 earnings at $2.21 EPS and FY2025 earnings at $2.58 EPS.

Separately, William Blair began coverage on shares of AAON in a report on Monday, April 29th. They set an “outperform” rating on the stock.

AAON Stock Performance

Shares of AAON opened at $76.20 on Tuesday. The firm has a market cap of $6.26 billion, a P/E ratio of 35.44 and a beta of 0.88. AAON has a twelve month low of $52.24 and a twelve month high of $96.34. The firm’s 50 day moving average price is $86.03 and its two-hundred day moving average price is $74.76.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). AAON had a return on equity of 25.84% and a net margin of 15.44%. The business had revenue of $262.10 million during the quarter, compared to the consensus estimate of $284.76 million. During the same quarter last year, the company earned $0.45 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year.

Institutional Trading of AAON

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in AAON by 57.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,489,640 shares of the construction company’s stock valued at $425,936,000 after purchasing an additional 2,725,779 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of AAON by 46.0% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,385,306 shares of the construction company’s stock valued at $249,392,000 after buying an additional 1,380,751 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of AAON by 0.8% during the 4th quarter. Conestoga Capital Advisors LLC now owns 3,354,242 shares of the construction company’s stock worth $247,778,000 after acquiring an additional 25,178 shares during the period. Geneva Capital Management LLC increased its holdings in shares of AAON by 0.8% during the 4th quarter. Geneva Capital Management LLC now owns 1,702,641 shares of the construction company’s stock worth $125,774,000 after acquiring an additional 13,864 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of AAON by 111.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,606,506 shares of the construction company’s stock worth $91,361,000 after acquiring an additional 847,953 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insider Buying and Selling

In other AAON news, Director Norman H. Asbjornson sold 805 shares of AAON stock in a transaction on Monday, March 11th. The shares were sold at an average price of $80.01, for a total value of $64,408.05. Following the sale, the director now directly owns 53,093 shares in the company, valued at approximately $4,247,970.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other AAON news, Director Norman H. Asbjornson sold 805 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $80.01, for a total value of $64,408.05. Following the completion of the transaction, the director now directly owns 53,093 shares in the company, valued at $4,247,970.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Stephen E. Wakefield sold 24,655 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $80.86, for a total value of $1,993,603.30. Following the sale, the vice president now owns 15,992 shares in the company, valued at approximately $1,293,113.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,596 shares of company stock worth $3,613,768. 18.55% of the stock is owned by insiders.

AAON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, March 15th. AAON’s dividend payout ratio is presently 14.88%.

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.