A. O. Smith (NYSE:AOS) Releases FY 2024 Earnings Guidance

A. O. Smith (NYSE:AOS) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 3.900-4.150 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of A. O. Smith stock traded up $0.33 during trading on Friday, reaching $83.15. 1,316,242 shares of the company’s stock were exchanged, compared to its average volume of 986,730. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.06 and a current ratio of 1.59. A. O. Smith has a 1-year low of $63.88 and a 1-year high of $89.96. The company 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. The firm’s 50-day moving average price is $85.65 and its 200 day moving average price is $79.75.

A. O. Smith (NYSE:AOS) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.00 EPS for the quarter, topping 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 the consensus estimate of $995.91 million. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, research analysts anticipate that A. O. Smith will post 4.09 earnings per share for the current year.

A. O. Smith Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.28 dividend on an annualized basis and a yield of 1.54%. A. O. Smith’s dividend payout ratio is currently 34.59%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AOS shares. Oppenheimer reissued a market perform rating on shares of A. O. Smith in a research note on Thursday, April 18th. Robert W. Baird increased their price objective on shares of A. O. Smith from $86.00 to $92.00 and gave the stock a neutral rating in a research report on Friday. StockNews.com lowered A. O. Smith from a strong-buy rating to a buy rating in a research report on Wednesday, March 6th. Jefferies Financial Group upped their price target 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. Finally, Citigroup raised their price objective 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. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $90.67.

Insider Activity at A. O. Smith

In other A. O. Smith news, VP Robert J. Heideman sold 9,890 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 9,455 shares of the company’s stock, valued at $800,176.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other A. O. Smith news, Director Ajita G. Rajendra sold 24,669 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $83.02, for a total value 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 approximately $4,728,072.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Robert J. Heideman sold 9,890 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $84.63, for a total value of $836,990.70. Following the transaction, the vice president now owns 9,455 shares of the company’s stock, valued at $800,176.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,631 shares of company stock worth $8,042,535. 2.70% of the stock is owned by company insiders.

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.