A. O. Smith (NYSE:AOS) Releases FY24 Earnings Guidance

A. O. Smith (NYSE:AOS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.90-$4.15 for the period, compared to the consensus estimate of $4.08. The company issued revenue guidance of $3.970-$4.050 billion, compared to the consensus revenue estimate of $4.01 billion. A. O. Smith also updated its FY 2024 guidance to 3.900-4.150 EPS.

A. O. Smith Trading Up 0.4 %

NYSE:AOS traded up $0.33 during mid-day trading on Friday, reaching $83.15. 1,316,242 shares of the company’s stock traded hands, compared to its average volume of 986,730. A. O. Smith has a 12-month low of $63.88 and a 12-month high of $89.96. The firm has a market capitalization of $12.24 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 2.36 and a beta of 1.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.59 and a quick ratio of 1.06. The company has a 50 day moving average price of $85.71 and a 200-day moving average price of $79.85.

A. O. Smith (NYSE:AOS) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.01. The business had revenue of $978.80 million for the quarter, compared to analysts’ expectations of $995.91 million. A. O. Smith had a return on equity of 31.05% and a net margin of 14.45%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. On average, sell-side analysts predict that A. O. Smith will post 4.09 earnings per share for the current year.

A. O. Smith Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.32 dividend. 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 34.59%.

Analyst Ratings Changes

A number of brokerages have issued reports on AOS. Oppenheimer reiterated a market perform rating on shares of A. O. Smith in a research note on Thursday, April 18th. Robert W. Baird increased their price target on A. O. Smith from $86.00 to $92.00 and gave the stock a neutral rating in a research note on Friday. Stifel Nicolaus cut their price target on A. O. Smith from $91.00 to $90.00 and set a hold rating for the company in a research note on Friday. StockNews.com lowered A. O. Smith from a strong-buy rating to a buy rating in a research note on Wednesday, March 6th. Finally, Jefferies Financial Group increased their price target on A. O. Smith from $85.00 to $90.00 and gave the stock a hold rating in a research note on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, A. O. Smith presently has an average rating of Hold and an average price target of $90.67.

Insider Buying and Selling at A. O. Smith

In related news, VP Robert J. Heideman sold 9,890 shares of the 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 transaction, the vice president now owns 9,455 shares of the company’s stock, valued at approximately $800,176.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Robert J. Heideman sold 9,890 shares of the 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 transaction, the vice president now owns 9,455 shares of the company’s stock, valued at approximately $800,176.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the director now directly owns 46,140 shares of the company’s stock, valued at approximately $3,691,200. The disclosure for this sale can be found here. Insiders sold 95,631 shares of company stock valued at $8,042,535 in the last 90 days. Insiders own 2.70% of the company’s stock.

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.