A. O. Smith Corp (NYSE:AOS) – Stock analysts at DA Davidson lowered their Q4 2018 earnings per share estimates for shares of A. O. Smith in a research note issued to investors on Wednesday, October 31st. DA Davidson analyst M. Summerville now forecasts that the industrial products company will post earnings per share of $0.70 for the quarter, down from their prior forecast of $0.71. DA Davidson also issued estimates for A. O. Smith’s Q4 2019 earnings at $0.74 EPS.
A. O. Smith (NYSE:AOS) last announced its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.02). The firm had revenue of $754.10 million for the quarter, compared to the consensus estimate of $805.92 million. A. O. Smith had a net margin of 10.83% and a return on equity of 24.98%. A. O. Smith’s revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $0.54 EPS.
Several other brokerages also recently weighed in on AOS. Zacks Investment Research downgraded shares of A. O. Smith from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. SunTrust Banks reaffirmed a “buy” rating and issued a $71.00 target price on shares of A. O. Smith in a research report on Thursday, July 26th. Oppenheimer reaffirmed a “hold” rating on shares of A. O. Smith in a research report on Tuesday, September 18th. BMO Capital Markets reaffirmed a “buy” rating and issued a $73.00 target price on shares of A. O. Smith in a research report on Thursday, July 26th. Finally, Boenning Scattergood reaffirmed a “buy” rating and issued a $75.00 target price on shares of A. O. Smith in a research report on Wednesday, July 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $65.75.
Shares of AOS opened at $47.54 on Monday. The company has a market cap of $8.20 billion, a P/E ratio of 21.91, a PEG ratio of 1.57 and a beta of 1.45. The company has a quick ratio of 1.75, a current ratio of 2.16 and a debt-to-equity ratio of 0.11. A. O. Smith has a twelve month low of $40.34 and a twelve month high of $68.39.
Hedge funds have recently modified their holdings of the company. Vident Investment Advisory LLC bought a new stake in shares of A. O. Smith during the 2nd quarter valued at $1,302,000. Morgan Stanley grew its position in shares of A. O. Smith by 531.8% during the 2nd quarter. Morgan Stanley now owns 3,478,281 shares of the industrial products company’s stock valued at $205,741,000 after acquiring an additional 2,927,749 shares during the period. Putnam Investments LLC grew its position in shares of A. O. Smith by 5.2% during the 2nd quarter. Putnam Investments LLC now owns 886,851 shares of the industrial products company’s stock valued at $52,457,000 after acquiring an additional 43,497 shares during the period. Federated Investors Inc. PA bought a new stake in shares of A. O. Smith during the 2nd quarter valued at $145,000. Finally, Renaissance Technologies LLC bought a new stake in shares of A. O. Smith during the 2nd quarter valued at $12,936,000. 75.52% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Paul W. Jones sold 4,591 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $58.92, for a total transaction of $270,501.72. Following the completion of the sale, the director now owns 214,558 shares of the company’s stock, valued at approximately $12,641,757.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.28% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Tuesday, October 30th. This is an increase from A. O. Smith’s previous quarterly dividend of $0.18. A. O. Smith’s payout ratio is 40.55%.
About A. O. Smith
A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for use in space heating applications for hospitals, schools, hotels, and other large commercial buildings; and water treatment products, including on-the-go filtration bottles, point-of-use carbon and reverse osmosis products, point-of-entry water softeners, and whole-home water filtrations products for residences, restaurants, hotels, and offices.
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