AAON, Inc. (NASDAQ:AAON) Plans Quarterly Dividend of $0.10

AAON, Inc. (NASDAQ:AAON) announced a quarterly dividend on Tuesday, November 10th. Shareholders of record on Wednesday, November 25th will be paid a dividend of $0.10 per share by the construction company on Thursday, December 17th. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, November 25th.

AAON has raised its dividend by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. AAON has a payout ratio of 13.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AAON to earn $3.56 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 11.2%.

AAON Stock Performance

AAON stock traded up $12.14 during midday trading on Tuesday, hitting $75.01. The company’s stock had a trading volume of 5,022,213 shares, compared to its average volume of 1,106,161. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 39.07, a PEG ratio of 1.08 and a beta of 1.45. AAON has a 1-year low of $53.13 and a 1-year high of $150.46. The company has a 50-day moving average price of $76.73 and a two-hundred day moving average price of $96.81.

AAON (NASDAQ:AAON) last announced its earnings results on Monday, November 9th. The construction company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.26. AAON had a net margin of 8.24% and a return on equity of 17.32%. The firm had revenue of $707.43 million for the quarter, compared to analyst estimates of $601.19 million. During the same quarter in the prior year, the business posted $0.37 EPS. The business’s revenue was up 84.1% compared to the same quarter last year. As a group, sell-side analysts predict that AAON will post 2.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AAON has been the subject of several recent research reports. Robert W. Baird cut their price target on AAON from $110.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday. DA Davidson began coverage on AAON in a research note on Tuesday, September 15th. They set a “buy” rating and a $110.00 price objective on the stock. KeyCorp reaffirmed a “sector weight” rating on shares of AAON in a report on Thursday, August 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of AAON in a research report on Monday, October 12th. Finally, Oppenheimer restated an “outperform” rating and issued a $105.00 price target (down from $115.00) on shares of AAON in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AAON currently has an average rating of “Moderate Buy” and an average target price of $106.33.

About AAON

AAON, Inc. designs and manufactures heating, ventilation and air-conditioning (HVAC) equipment for commercial and industrial buildings. Founded in 1988, the company is headquartered in Tulsa, Oklahoma, and sells products under the AAON and BASX brands. Its products include rooftop units, chillers, air-handling units, heat pumps and other custom HVAC systems. BASX specializes in equipment for data centers and other demanding applications, while AAON also offers controls and related services. AAON serves customers primarily in North America, with products also reaching international markets through its sales and distribution network.