A. O. Smith (NYSE:AOS) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

A. O. Smith (NYSE:AOS) posted its earnings results on Thursday. The industrial products company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.99 by $0.01, Briefing.com reports. The firm had revenue of $978.80 million for the quarter, compared to analyst estimates of $995.91 million. A. O. Smith had a return on equity of 30.94% and a net margin of 14.94%. A. O. Smith’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 earnings per share. A. O. Smith updated its FY 2024 guidance to 3.900-4.150 EPS and its FY24 guidance to $3.90-$4.15 EPS.

A. O. Smith Stock Performance

Shares of AOS traded up $0.39 during mid-day trading on Friday, hitting $83.21. 1,316,242 shares of the company’s stock were exchanged, compared to its average volume of 1,049,093. A. O. Smith has a fifty-two week low of $63.88 and a fifty-two week high of $89.96. The firm has a market capitalization of $12.25 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.25 and a beta of 1.25. The business’s 50 day moving average is $85.71 and its two-hundred day moving average is $79.85. The company has a current ratio of 1.65, a quick ratio of 1.06 and a debt-to-equity ratio of 0.06.

A. O. Smith Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.28 annualized dividend and a dividend yield of 1.54%. A. O. Smith’s dividend payout ratio (DPR) is 33.16%.

Insider Transactions at A. O. Smith

In other news, Director Idelle K. Wolf sold 814 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $80.00, for a total transaction of $65,120.00. Following the completion of the sale, the director now owns 46,140 shares in the company, valued at $3,691,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Robert J. Heideman sold 9,890 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $84.63, for a total value of $836,990.70. Following the completion of the sale, the vice president now owns 9,455 shares in the company, valued at $800,176.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Idelle K. Wolf sold 814 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $80.00, for a total transaction of $65,120.00. Following the completion of the sale, the director now owns 46,140 shares of the company’s stock, valued at approximately $3,691,200. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,631 shares of company stock worth $8,042,535. Company insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

AOS has been the topic of several recent analyst reports. Robert W. Baird increased their target price on A. O. Smith from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Friday. Citigroup increased their target price on A. O. Smith from $82.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Jefferies Financial Group increased their target price on A. O. Smith from $85.00 to $90.00 and gave the company a “hold” rating in a report on Friday, April 12th. StockNews.com lowered A. O. Smith from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. Finally, Stifel Nicolaus dropped their price objective on A. O. Smith from $91.00 to $90.00 and set a “hold” rating on the stock in a report on Friday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $90.67.

A. O. Smith Company Profile

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.