A. O. Smith (NYSE:AOS) Posts Earnings Results, Beats Expectations By $0.01 EPS

A. O. Smith (NYSE:AOS) issued its quarterly earnings results on Thursday. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $995.91 million. During the same period in the previous year, the company posted $0.94 earnings per share. The business’s revenue 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 Trading Up 0.5 %

AOS stock traded up $0.39 during trading on Friday, hitting $83.21. The company had a trading volume of 1,316,242 shares, compared to its average volume of 1,049,093. 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 firm has a 50-day moving average price of $85.71 and a 200-day moving average price of $79.85. A. O. Smith has a 12 month low of $63.88 and a 12 month high of $89.96. The stock 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.

A. O. Smith Dividend Announcement

The company also recently announced 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 is Monday, April 29th. A. O. Smith’s dividend payout ratio (DPR) is currently 33.16%.

Insider Buying and Selling

In other A. O. Smith news, VP Robert J. Heideman sold 9,890 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $84.63, for a total transaction of $836,990.70. Following the completion of the sale, the vice president now owns 9,455 shares in the company, valued at approximately $800,176.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Robert J. Heideman sold 9,890 shares of the business’s 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 completion of the transaction, the vice president now owns 9,455 shares of the company’s stock, valued at approximately $800,176.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ajita G. Rajendra sold 24,669 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $83.02, for a total transaction of $2,048,020.38. Following the completion of the transaction, the director now directly owns 56,951 shares of the company’s stock, valued at $4,728,072.02. The disclosure for this sale can be found here. Insiders sold 95,631 shares of company stock worth $8,042,535 in the last quarter. Insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AOS. StockNews.com downgraded A. O. Smith from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. Robert W. Baird upped their target price on A. O. Smith from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday. Stifel Nicolaus reduced their price objective on A. O. Smith from $91.00 to $90.00 and set a “hold” rating for the company in a research note on Friday. Citigroup increased their target price on A. O. Smith from $82.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of A. O. Smith in a research note 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’s stock. According to MarketBeat.com, A. O. Smith currently has a consensus rating of “Hold” and a consensus price target of $90.67.

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.