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

A. O. Smith (NYSE:AOS) announced its quarterly earnings data on Thursday. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.01, Briefing.com reports. A. O. Smith had a return on equity of 30.94% and a net margin of 14.94%. The firm had revenue of $978.80 million for the quarter, compared to analysts’ expectations of $995.91 million. During the same period last year, the business posted $0.94 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. 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 trading hours on Friday, reaching $83.21. 1,316,242 shares of the company’s stock traded hands, compared to its average volume of 1,049,093. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 2.25 and a beta of 1.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.65 and a quick ratio of 1.06. A. O. Smith has a twelve month low of $63.88 and a twelve month high of $89.96. The business’s fifty day simple moving average is $85.71 and its two-hundred day simple moving average is $79.85.

A. O. Smith Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stifel Nicolaus reduced their price objective on A. O. Smith from $91.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday. StockNews.com cut A. O. Smith from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Citigroup raised their target price on A. O. Smith from $82.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Jefferies Financial Group raised their target price on A. O. Smith from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Finally, Robert W. Baird raised their target price on A. O. Smith from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, A. O. Smith presently has an average rating of “Hold” and a consensus price target of $90.67.

Insider Activity

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