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

AAON, Inc. (NASDAQ:AAON) – William Blair decreased their Q2 2024 EPS estimates for shares of AAON in a research note issued to investors on Friday, May 3rd. William Blair analyst R. Merkel now expects that the construction company will post earnings per share of $0.53 for the quarter, down from their previous estimate of $0.58. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for AAON’s current full-year earnings is $2.27 per share. William Blair also issued estimates for AAON’s Q3 2024 earnings at $0.61 EPS, FY2024 earnings at $2.25 EPS, Q1 2025 earnings at $0.58 EPS, Q2 2025 earnings at $0.68 EPS, Q3 2025 earnings at $0.78 EPS, Q4 2025 earnings at $0.80 EPS and FY2025 earnings at $2.84 EPS.

AAON Stock Up 3.0 %

NASDAQ:AAON opened at $78.46 on Monday. The firm has a market capitalization of $6.45 billion, a PE ratio of 36.55 and a beta of 0.88. AAON has a twelve month low of $52.24 and a twelve month high of $96.34. The stock’s 50-day simple moving average is $85.89 and its 200 day simple moving average is $74.94.

AAON (NASDAQ:AAON) last issued 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 net margin of 15.44% and a return on equity of 25.84%. The business had revenue of $262.10 million during the quarter, compared to the consensus estimate of $284.76 million. During the same quarter in the previous year, the business posted $0.45 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis.

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, March 15th. AAON’s dividend payout ratio (DPR) is presently 14.91%.

Insider Activity at AAON

In related 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 value of $64,408.05. Following the completion of the transaction, the director now owns 53,093 shares of the company’s stock, valued at approximately $4,247,970.93. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Norman H. Asbjornson sold 19,136 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $81.30, for a total transaction of $1,555,756.80. Following the sale, the director now directly owns 14,874 shares in the company, valued at $1,209,256.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Norman H. Asbjornson sold 805 shares of the firm’s 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 transaction, the director now owns 53,093 shares of the company’s stock, valued at approximately $4,247,970.93. 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 owned by insiders.

Institutional Investors Weigh In On AAON

A number of institutional investors have recently added to or reduced their stakes in the business. TFO Wealth Partners LLC acquired a new position in shares of AAON during the fourth quarter worth $27,000. Operose Advisors LLC acquired a new position in AAON during the 3rd quarter worth about $31,000. CI Investments Inc. grew its position 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 last quarter. GAMMA Investing LLC acquired a new stake in shares of AAON in the fourth quarter valued at about $36,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of AAON during the fourth quarter worth about $39,000. 70.81% of the stock is owned by institutional investors.

About AAON

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.