Brokers Offer Predictions for AAON, Inc.’s Q2 2024 Earnings (NASDAQ:AAON)

AAON, Inc. (NASDAQ:AAON) – Research analysts at DA Davidson issued their Q2 2024 earnings estimates for AAON in a research report issued to clients and investors on Monday, May 6th. DA Davidson analyst B. Thielman anticipates that the construction company will post earnings per share of $0.53 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.

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

Separately, William Blair initiated coverage on shares of AAON in a report on Monday, April 29th. They issued an “outperform” rating for the company.

AAON Trading Down 1.9 %

Shares of AAON stock opened at $76.99 on Tuesday. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 35.87 and a beta of 0.88. The business’s 50-day moving average price is $85.69 and its 200-day moving average price is $74.95. AAON has a 12 month low of $52.24 and a 12 month high of $96.34.

Hedge Funds Weigh In On AAON

Institutional investors have recently added to or reduced their stakes in the business. TFO Wealth Partners LLC bought a new stake in shares of AAON in the 4th quarter valued at $27,000. GAMMA Investing LLC acquired a new position in shares of AAON during the fourth quarter valued at about $36,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of AAON during the 4th quarter worth about $39,000. Operose Advisors LLC bought a new position in shares of AAON during the 3rd quarter worth about $31,000. Finally, CI Investments Inc. grew its stake in shares of AAON by 50.9% in the 3rd quarter. CI Investments Inc. now owns 617 shares of the construction company’s stock valued at $35,000 after buying an additional 208 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

AAON Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. AAON’s payout ratio is 14.91%.

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.