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

A. O. Smith (NYSE:AOS) updated its FY24 earnings guidance on Thursday. 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.

Analyst Upgrades and Downgrades

Several research firms recently commented on AOS. Robert W. Baird boosted their target price 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 decreased their price target on A. O. Smith from $91.00 to $90.00 and set a hold rating for the company in a report on Friday. Citigroup lifted their price target on A. O. Smith from $82.00 to $95.00 and gave the stock a neutral rating in a report on Monday, April 8th. StockNews.com downgraded A. O. Smith from a strong-buy rating to a buy rating in a report on Wednesday, March 6th. Finally, Oppenheimer reissued a market perform rating on shares of A. O. Smith in a report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $90.67.

A. O. Smith Stock Performance

AOS traded up $0.39 on Friday, hitting $83.21. 1,316,242 shares of the company traded hands, compared to its average volume of 1,049,093. The company has a 50 day moving average of $85.71 and a 200-day moving average of $79.85. The company has a quick ratio of 1.06, a current ratio of 1.65 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $12.25 billion, a PE ratio of 21.54, a PEG ratio of 2.25 and a beta of 1.25. A. O. Smith has a 12-month low of $63.88 and a 12-month high of $89.96.

A. O. Smith (NYSE:AOS) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.01. A. O. Smith had a return on equity of 30.94% and a net margin of 14.94%. The company had revenue of $978.80 million for the quarter, compared to analysts’ expectations of $995.91 million. During the same quarter in the previous year, the firm posted $0.94 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Sell-side analysts anticipate that A. O. Smith will post 4.09 earnings per share for the current year.

A. O. Smith Dividend Announcement

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 is Monday, April 29th. A. O. Smith’s payout ratio is 33.16%.

Insiders Place Their Bets

In related news, VP Robert J. Heideman sold 9,890 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $84.63, for a total value of $836,990.70. Following the sale, the vice president now owns 9,455 shares in the company, valued at approximately $800,176.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Robert J. Heideman sold 9,890 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $84.63, for a total value of $836,990.70. Following the sale, the vice president now owns 9,455 shares in the company, valued at approximately $800,176.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Idelle K. Wolf sold 814 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $80.00, for a total value of $65,120.00. Following the completion of the sale, the director now directly owns 46,140 shares in the company, valued at approximately $3,691,200. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,631 shares of company stock worth $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.