A. O. Smith (NYSE:AOS) Issues FY 2024 Earnings Guidance

A. O. Smith (NYSE:AOS) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.900-4.150 for the period, compared to the consensus EPS estimate of 4.080. The company issued revenue guidance of $4.0 billion-$4.1 billion, compared to the consensus revenue estimate of $4.0 billion. A. O. Smith also updated its FY24 guidance to $3.90-$4.15 EPS.

A. O. Smith Price Performance

Shares of AOS stock traded down $4.15 during mid-day trading on Thursday, hitting $82.85. 2,380,900 shares of the stock were exchanged, compared to its average volume of 982,610. The firm has a fifty day moving average of $85.65 and a 200 day moving average of $79.75. The company has a quick ratio of 1.06, a current ratio of 1.59 and a debt-to-equity ratio of 0.06. A. O. Smith has a 52-week low of $63.88 and a 52-week high of $89.96. The company has a market cap of $12.20 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 2.38 and a beta of 1.25.

A. O. Smith (NYSE:AOS) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. The firm had revenue of $978.80 million for the quarter, compared to analyst estimates of $995.91 million. A. O. Smith had a net margin of 14.45% and a return on equity of 31.05%. A. O. Smith’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.94 EPS. Research analysts anticipate that A. O. Smith will post 4.1 earnings per share for the current year.

A. O. Smith Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Monday, April 29th. A. O. Smith’s dividend payout ratio is presently 34.59%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of A. O. Smith from $85.00 to $90.00 and gave the company a hold rating in a research note on Friday, April 12th. Citigroup raised their price target on shares of A. O. Smith from $82.00 to $95.00 and gave the company a neutral rating in a research note on Monday, April 8th. Oppenheimer reaffirmed a market perform rating on shares of A. O. Smith in a research note on Thursday, April 18th. Stifel Nicolaus raised their target price on shares of A. O. Smith from $85.00 to $91.00 and gave the stock a hold rating in a research note on Wednesday, April 17th. Finally, StockNews.com lowered shares of A. O. Smith from a strong-buy rating to a buy rating in a research note on Wednesday, March 6th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $88.50.

Insiders Place Their Bets

In other A. O. Smith news, VP Robert J. Heideman sold 9,890 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $84.63, for a total value of $836,990.70. Following the transaction, the vice president now directly owns 9,455 shares of the company’s stock, valued at approximately $800,176.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Robert J. Heideman sold 9,890 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $84.63, for a total transaction of $836,990.70. Following the completion of the sale, the vice president now owns 9,455 shares in the company, valued at approximately $800,176.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ajita G. Rajendra sold 24,669 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $83.02, for a total transaction of $2,048,020.38. Following the sale, the director now owns 56,951 shares of the company’s stock, valued at approximately $4,728,072.02. The disclosure for this sale can be found here. Insiders have sold 95,631 shares of company stock valued at $8,042,535 in the last ninety days. 2.70% of the stock is currently owned by corporate insiders.

About A. O. Smith

A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels, office buildings, laundries, car washes, and small businesses; boilers for hospitals, schools, hotels, and other large commercial buildings, as well as homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, and point-of-use carbon and reverse osmosis products for residences, restaurants, hotels, and offices.