A. O. Smith (NYSE:AOS) Updates 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 Performance

AOS stock traded up $0.33 during midday trading on Friday, hitting $83.15. 1,316,242 shares of the stock traded hands, compared to its average volume of 986,730. The stock’s fifty day simple moving average is $85.65 and its 200-day simple moving average is $79.75. The firm has a market cap of $12.24 billion, a P/E ratio of 22.63, a PEG ratio of 2.36 and a beta of 1.25. A. O. Smith has a 1-year low of $63.88 and a 1-year high of $89.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.59 and a quick ratio of 1.06.

A. O. Smith (NYSE:AOS) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.01. A. O. Smith had a return on equity of 31.05% and a net margin of 14.45%. The firm had revenue of $978.80 million during the quarter, compared to analyst estimates of $995.91 million. During the same quarter in the previous year, the business earned $0.94 EPS. A. O. Smith’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts expect that A. O. Smith will post 4.09 earnings per share for the current year.

A. O. Smith Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.32 dividend. 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 is presently 34.59%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Citigroup increased their target price on shares of A. O. Smith from $82.00 to $95.00 and gave the company a neutral rating in a research report on Monday, April 8th. StockNews.com downgraded shares of A. O. Smith from a strong-buy rating to a buy rating in a research note on Wednesday, March 6th. Stifel Nicolaus cut their price target on shares of A. O. Smith from $91.00 to $90.00 and set a hold rating for the company in a report on Friday. Oppenheimer reiterated a market perform rating on shares of A. O. Smith in a report on Thursday, April 18th. Finally, Jefferies Financial Group raised their target price on A. O. Smith from $85.00 to $90.00 and gave the stock a hold rating in a research note on Friday, April 12th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $90.67.

Insider Transactions at A. O. Smith

In related news, VP Robert J. Heideman sold 9,890 shares of the firm’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 transaction of $836,990.70. Following 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 document filed with the Securities & Exchange Commission, which is available at this link. In other A. O. Smith news, VP Robert J. Heideman sold 9,890 shares of A. O. Smith stock in a transaction 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 transaction, the vice president now directly owns 9,455 shares in the company, valued at $800,176.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ajita G. Rajendra sold 60,258 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $84.51, for a total transaction of $5,092,403.58. Following the completion of the sale, the director now directly owns 56,951 shares of the company’s stock, valued at $4,812,929.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,631 shares of company stock worth $8,042,535. Corporate 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.