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 Stock Up 0.5 %

NYSE:AOS traded up $0.39 during trading hours on Friday, hitting $83.21. 1,316,242 shares of the stock traded hands, 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 company has a current ratio of 1.65, a quick ratio of 1.06 and a debt-to-equity ratio of 0.06. The firm has a market cap of $12.25 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.25 and a beta of 1.25. The firm 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 posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.01. A. O. Smith had a net margin of 14.94% and a return on equity of 30.94%. The business had revenue of $978.80 million for the quarter, compared to the consensus estimate of $995.91 million. During the same period in the prior year, the business posted $0.94 earnings per share. A. O. Smith’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts anticipate that A. O. Smith will post 4.09 earnings per share for the current year.

A. O. Smith Announces Dividend

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

Analysts Set New Price Targets

AOS has been the topic of several research analyst reports. Oppenheimer reaffirmed a market perform rating on shares of A. O. Smith in a research report on Thursday, April 18th. Stifel Nicolaus lowered their price target on A. O. Smith from $91.00 to $90.00 and set a hold rating on the stock in a research report on Friday. Robert W. Baird raised their price target on A. O. Smith from $86.00 to $92.00 and gave the company a neutral rating in a research report on Friday. Jefferies Financial Group raised their price target on A. O. Smith from $85.00 to $90.00 and gave the company a hold rating in a research report on Friday, April 12th. Finally, StockNews.com downgraded A. O. Smith from a strong-buy rating to a buy rating in a research report on Wednesday, March 6th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $90.67.

Insider Activity

In related news, VP Robert J. Heideman sold 9,890 shares of the business’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 completion of the transaction, the vice president now owns 9,455 shares in the company, valued at approximately $800,176.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other A. O. Smith news, Director Idelle K. Wolf sold 814 shares of A. O. Smith stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert J. Heideman sold 9,890 shares of A. O. Smith stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $84.63, for a total transaction of $836,990.70. Following the sale, the vice president now directly owns 9,455 shares of the company’s stock, valued at approximately $800,176.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,631 shares of company stock worth $8,042,535. Insiders own 2.70% of the company’s stock.

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.