AAON, Inc. (NASDAQ:AAON) Stock to Pay Quarterly Dividend of $0.10

Key Points

• AAON declared a quarterly dividend of $0.10 per share, payable December 17 to shareholders of record November 25. The annualized dividend is $0.40, a 0.5% yield.
• The dividend appears well covered: AAON’s payout ratio is 13.5%, and analysts expect next year’s earnings to imply an 11.2% payout ratio.
• AAON reported quarterly EPS of $0.83, beating the $0.57 consensus, while revenue rose 84.1% year over year to $707.43 million. Analysts’ average rating is “Moderate Buy,” with an average price target of $106.33.

AAON, Inc. (NASDAQ:AAON - Get Free Report) declared a quarterly dividend on Tuesday, November 10th. Shareholders of record on Wednesday, November 25th will be given a dividend of $0.10 per share by the construction company on Thursday, December 17th. This represents a $0.40 dividend on an annualized basis 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 raised its dividend every year for the last 2 years. AAON has a payout ratio of 13.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 19.3%

Shares of NASDAQ:AAON traded up $12.14 during trading on Tuesday, hitting $75.01. 5,022,213 shares of the company were exchanged, compared to its average volume of 1,106,161. AAON has a fifty-two week low of $53.13 and a fifty-two week high of $150.46. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 39.07, a P/E/G ratio of 1.08 and a beta of 1.45. The company has a current ratio of 3.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average price of $76.73 and a two-hundred day moving average price of $96.81.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings data on Monday, November 9th. The construction company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.57 by $0.26. AAON had a return on equity of 17.32% and a net margin of 8.24%. The company had revenue of $707.43 million during the quarter, compared to the consensus estimate of $601.19 million. During the same quarter in the prior year, the firm posted $0.37 EPS. The firm's revenue for the quarter was up 84.1% compared to the same quarter last year. As a group, research analysts anticipate that AAON will post 2.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

AAON Company Profile

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.

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