DA Davidson Weighs in on AAON, Inc.’s Q2 2024 Earnings (NASDAQ:AAON)

AAON, Inc. (NASDAQ:AAON) – Research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of AAON in a note issued to investors on Monday, May 6th. DA Davidson analyst B. Thielman forecasts 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 results on Thursday, May 2nd. The construction company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The company had revenue of $262.10 million for the quarter, compared to analyst estimates of $284.76 million. AAON had a return on equity of 25.84% and a net margin of 15.44%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS.

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

AAON Price Performance

NASDAQ AAON opened at $78.46 on Tuesday. The company’s fifty day moving average price is $85.89 and its two-hundred day moving average price is $74.94. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 36.55 and a beta of 0.88. AAON has a 12 month low of $52.24 and a 12 month high of $96.34.

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a 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 Buying and Selling

In other news, Director Norman H. Asbjornson sold 805 shares of AAON stock in a transaction dated 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 directly owns 53,093 shares of the company’s stock, valued at approximately $4,247,970.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Norman H. Asbjornson sold 805 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $80.01, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen E. Wakefield sold 24,655 shares of the firm’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 completion of 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. Insiders have sold 44,596 shares of company stock worth $3,613,768 over the last ninety days. 18.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. TFO Wealth Partners LLC acquired a new stake in shares of AAON in the 4th quarter worth approximately $27,000. Operose Advisors LLC acquired a new position in AAON during the third quarter worth about $31,000. CI Investments Inc. raised its position in AAON by 50.9% in the third quarter. CI Investments Inc. now owns 617 shares of the construction company’s stock worth $35,000 after acquiring an additional 208 shares in the last quarter. GAMMA Investing LLC acquired a new stake in AAON in the 4th quarter valued at about $36,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of AAON during the 4th quarter valued at about $39,000. 70.81% of the stock is owned by institutional investors and hedge funds.

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.