What is KeyCorp's Forecast for AAON Q2 Earnings?

Key Points

• KeyCorp forecasts AAON will earn $0.51 per share in Q2 2026 and maintains a “Sector Weight” rating. Its projections include $2.23 in full-year 2026 EPS, rising to $3.35 in 2027 and $4.60 in 2028.
• AAON’s latest reported quarter exceeded expectations, with $0.48 EPS versus the $0.31 consensus and revenue up 54.3% year over year to $496.94 million.
• The stock has a “Moderate Buy” consensus rating and an average price target of $112, while shares recently opened at $102.67. Insiders sold 118,580 shares worth approximately $16.3 million over the past quarter.

AAON, Inc. (NASDAQ:AAON - Free Report) - Investment analysts at KeyCorp issued their Q2 2026 earnings estimates for AAON in a research note issued to investors on Wednesday, July 22nd. KeyCorp analyst D. Tarantino forecasts that the construction company will earn $0.51 per share for the quarter. KeyCorp has a "Sector Weight" rating on the stock. The consensus estimate for AAON's current full-year earnings is $2.24 per share. KeyCorp also issued estimates for AAON's Q3 2026 earnings at $0.67 EPS, Q4 2026 earnings at $0.57 EPS, FY2026 earnings at $2.23 EPS, FY2027 earnings at $3.35 EPS and FY2028 earnings at $4.60 EPS.

AAON has been the topic of several other research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AAON in a research report on Tuesday, July 14th. Zacks Research downgraded AAON from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Finally, Oppenheimer restated an "outperform" rating on shares of AAON in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $112.00.

AAON Price Performance

Shares of NASDAQ AAON opened at $102.67 on Monday. The business has a 50-day moving average price of $125.19 and a 200 day moving average price of $105.47. The stock has a market cap of $8.41 billion, a PE ratio of 71.80, a price-to-earnings-growth ratio of 2.86 and a beta of 1.41. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. AAON has a 52-week low of $62.00 and a 52-week high of $150.46.

AAON (NASDAQ:AAON - Get Free Report) last posted its earnings results on Thursday, May 7th. The construction company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.17. AAON had a return on equity of 13.67% and a net margin of 7.30%.The business had revenue of $496.94 million for the quarter, compared to analysts' expectations of $381.08 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business's revenue was up 54.3% compared to the same quarter last year.

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, June 5th. AAON's payout ratio is 27.97%.

Insider Activity

In other AAON news, EVP Gordon Douglas Wichman sold 3,000 shares of AAON stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.39, for a total value of $421,170.00. Following the transaction, the executive vice president directly owned 10,997 shares in the company, valued at approximately $1,543,868.83. This trade represents a 21.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Casey Kidwell sold 3,153 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $138.30, for a total value of $436,059.90. Following the completion of the transaction, the insider directly owned 13,463 shares in the company, valued at approximately $1,861,932.90. The trade was a 18.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 118,580 shares of company stock worth $16,321,222 over the last quarter. 18.09% of the stock is owned by insiders.

Hedge Funds Weigh In On AAON

Several institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of AAON by 512.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company's stock worth $442,896,000 after purchasing an additional 3,966,088 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of AAON by 8,956.4% in the 4th quarter. Franklin Resources Inc. now owns 1,222,706 shares of the construction company's stock valued at $93,231,000 after purchasing an additional 1,209,205 shares in the last quarter. Norges Bank acquired a new stake in shares of AAON in the fourth quarter valued at about $41,584,000. Impax Asset Management Group plc lifted its stake in shares of AAON by 53.2% in the fourth quarter. Impax Asset Management Group plc now owns 1,403,648 shares of the construction company's stock valued at $107,028,000 after purchasing an additional 487,601 shares during the period. Finally, Wasatch Advisors LP boosted its holdings in AAON by 27.1% during the third quarter. Wasatch Advisors LP now owns 2,138,959 shares of the construction company's stock worth $199,864,000 after buying an additional 456,560 shares in the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

AAON Company Profile

AAON, Inc NASDAQ: AAON is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company's product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON's core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.

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