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

A. O. Smith (NYSE:AOS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $3.90-$4.15 for the period, compared to the consensus EPS 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.

A. O. Smith Stock Performance

AOS stock traded up $0.33 during mid-day trading on Friday, reaching $83.15. The company had a trading volume of 1,316,242 shares, compared to its average volume of 986,730. The company has a quick ratio of 1.06, a current ratio of 1.59 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $12.24 billion, a P/E ratio of 22.47, a P/E/G ratio of 2.36 and a beta of 1.25. A. O. Smith has a one year low of $63.88 and a one year high of $89.96. The stock’s 50-day simple moving average is $85.71 and its two-hundred day simple moving average is $79.85.

A. O. Smith (NYSE:AOS) last released its 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 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 business posted $0.94 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts anticipate that A. O. Smith will post 4.09 EPS 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 paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.28 annualized dividend and a yield of 1.54%. A. O. Smith’s dividend payout ratio (DPR) is presently 34.59%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AOS. StockNews.com lowered A. O. Smith from a strong-buy rating to a buy rating in a report on Wednesday, March 6th. Stifel Nicolaus cut 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 upped 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. Robert W. Baird upped their price target on A. O. Smith from $86.00 to $92.00 and gave the stock a neutral rating in a report on Friday. Finally, Oppenheimer restated a market perform rating on shares of A. O. Smith in a research report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $90.67.

Insider Activity

In related news, Director Idelle K. Wolf sold 814 shares of the business’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 sale, the director now owns 46,140 shares in the company, valued at approximately $3,691,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Idelle K. Wolf sold 814 shares of the business’s 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 of the company’s stock, valued at approximately $3,691,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ajita G. Rajendra sold 60,258 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $84.51, for a total value of $5,092,403.58. Following the completion of the transaction, the director now directly owns 56,951 shares in the company, valued at $4,812,929.01. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,631 shares of company stock worth $8,042,535. 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.