A. O. Smith (NYSE:AOS) Announces Earnings Results

A. O. Smith (NYSE:AOS) announced its quarterly earnings results on Thursday. The industrial products company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01, Briefing.com reports. The firm had revenue of $978.80 million for the quarter, compared to analysts’ expectations of $995.91 million. A. O. Smith had a return on equity of 30.94% and a net margin of 14.94%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.94 earnings per share. 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 %

A. O. Smith stock traded up $0.39 during mid-day trading on Friday, hitting $83.21. The stock had a trading volume of 1,316,242 shares, compared to its average volume of 1,049,093. The stock has a 50-day simple moving average of $85.71 and a two-hundred day simple moving average of $79.85. The stock has a market capitalization of $12.25 billion, a PE ratio of 21.54, a P/E/G 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. The company has a current ratio of 1.65, a quick ratio of 1.06 and a debt-to-equity ratio of 0.06.

A. O. Smith Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.32 dividend. 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 dividend payout ratio is 33.16%.

Insider Activity at A. O. Smith

In related news, VP Robert J. Heideman sold 9,890 shares of the firm’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 in the company, valued at $800,176.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other A. O. Smith news, VP Robert J. Heideman sold 9,890 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Idelle K. Wolf sold 814 shares of the stock in a transaction dated 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 transaction, 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. Insiders have sold a total of 95,631 shares of company stock worth $8,042,535 over the last 90 days. Insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on AOS. Oppenheimer restated a “market perform” rating on shares of A. O. Smith in a report on Thursday, April 18th. Citigroup increased their target price on A. O. Smith from $82.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Jefferies Financial Group increased their target price on A. O. Smith from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Robert W. Baird increased their target price on A. O. Smith from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday. Finally, StockNews.com cut A. O. Smith from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $90.67.

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.