Oppenheimer Comments on A. O. Smith Co.’s Q3 2021 Earnings (NYSE:AOS)

A. O. Smith Co. (NYSE:AOS) – Research analysts at Oppenheimer raised their Q3 2021 earnings per share (EPS) estimates for shares of A. O. Smith in a note issued to investors on Monday, June 7th. Oppenheimer analyst B. Blair now expects that the industrial products company will earn $0.68 per share for the quarter, up from their previous forecast of $0.67. Oppenheimer also issued estimates for A. O. Smith’s Q4 2021 earnings at $0.79 EPS, FY2021 earnings at $2.70 EPS and FY2022 earnings at $3.05 EPS.

AOS has been the topic of several other reports. Stifel Nicolaus downgraded shares of A. O. Smith from a “buy” rating to a “hold” rating and increased their price target for the stock from $65.00 to $67.00 in a research report on Monday, April 5th. Rosenblatt Securities increased their price target on shares of A. O. Smith from $78.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, May 10th. Zacks Investment Research upgraded shares of A. O. Smith from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research report on Tuesday, March 30th. Finally, The Goldman Sachs Group increased their price target on shares of A. O. Smith from $35.00 to $40.00 and gave the stock a “sell” rating in a research report on Friday, April 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. A. O. Smith presently has an average rating of “Hold” and a consensus target price of $61.88.

AOS opened at $67.79 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.05. A. O. Smith has a 1-year low of $43.88 and a 1-year high of $73.05. The company has a market capitalization of $10.88 billion, a P/E ratio of 28.13, a PEG ratio of 2.84 and a beta of 1.05. The stock has a 50 day simple moving average of $69.08.

A. O. Smith (NYSE:AOS) last issued its quarterly earnings data on Wednesday, April 28th. The industrial products company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.03. A. O. Smith had a net margin of 12.91% and a return on equity of 22.37%. The company had revenue of $769.00 million for the quarter, compared to the consensus estimate of $768.60 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 17th. Stockholders of record on Friday, April 30th were paid a $0.26 dividend. The ex-dividend date of this dividend was Thursday, April 29th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.53%. A. O. Smith’s dividend payout ratio (DPR) is presently 48.15%.

In related news, SVP Wallace E. Goodwin sold 2,000 shares of the firm’s stock in a transaction on Monday, March 29th. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the transaction, the senior vice president now directly owns 9,501 shares of the company’s stock, valued at $665,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald D. Brown sold 12,000 shares of the firm’s stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $68.71, for a total transaction of $824,520.00. Over the last three months, insiders sold 144,728 shares of company stock valued at $10,154,676. Corporate insiders own 1.04% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of AOS. FMR LLC grew its stake in A. O. Smith by 51.9% during the first quarter. FMR LLC now owns 813,266 shares of the industrial products company’s stock valued at $43,364,000 after acquiring an additional 277,862 shares in the last quarter. Creative Planning purchased a new position in A. O. Smith during the fourth quarter valued at $214,000. Hartford Investment Management Co. lifted its position in A. O. Smith by 8.0% during the fourth quarter. Hartford Investment Management Co. now owns 15,223 shares of the industrial products company’s stock valued at $835,000 after purchasing an additional 1,132 shares during the last quarter. NN Investment Partners Holdings N.V. lifted its position in A. O. Smith by 8.7% during the fourth quarter. NN Investment Partners Holdings N.V. now owns 59,373 shares of the industrial products company’s stock valued at $3,254,000 after purchasing an additional 4,756 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in A. O. Smith by 5.4% during the fourth quarter. California Public Employees Retirement System now owns 321,201 shares of the industrial products company’s stock valued at $17,608,000 after purchasing an additional 16,527 shares during the last quarter. 75.42% of the stock is owned by institutional investors.

About A. O. Smith

A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for space heating applications in hospitals, schools, hotels, and other 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 filtration products for residences, restaurants, hotels, and offices.

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Earnings History and Estimates for A. O. Smith (NYSE:AOS)

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