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 (EPS) guidance of 3.900-4.150 for the period, compared to the consensus 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.

Analyst Ratings Changes

Several brokerages have commented on AOS. Jefferies Financial Group increased their price target on shares of A. O. Smith from $85.00 to $90.00 and gave the company a hold rating in a research note on Friday, April 12th. Stifel Nicolaus increased their price target on shares of A. O. Smith from $85.00 to $91.00 and gave the company a hold rating in a research note on Wednesday, April 17th. StockNews.com lowered shares of A. O. Smith from a strong-buy rating to a buy rating in a research report on Wednesday, March 6th. Oppenheimer restated a market perform rating on shares of A. O. Smith in a research report on Thursday, April 18th. Finally, Citigroup raised their target price on shares of A. O. Smith from $82.00 to $95.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $88.50.

A. O. Smith Stock Performance

NYSE:AOS opened at $87.00 on Thursday. The firm’s fifty day moving average price is $85.62 and its 200 day moving average price is $79.73. 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. The firm has a market cap of $12.81 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 2.38 and a beta of 1.25.

A. O. Smith (NYSE:AOS) last released its earnings results on Tuesday, January 30th. The industrial products company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 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 $988.10 million during the quarter, compared to the consensus estimate of $985.89 million. During the same quarter last year, the company earned $0.86 earnings per share. A. O. Smith’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts expect that A. O. Smith will post 4.1 EPS for the current year.

A. O. Smith Announces Dividend

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 issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, April 29th. A. O. Smith’s dividend payout ratio (DPR) is currently 34.59%.

Insider Buying and Selling at A. O. Smith

In other news, VP Robert J. Heideman sold 9,890 shares of A. O. Smith 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 owns 9,455 shares of the company’s stock, valued at approximately $800,176.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Robert J. Heideman sold 9,890 shares of A. O. Smith 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 owns 9,455 shares of the company’s stock, valued at approximately $800,176.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ajita G. Rajendra sold 60,258 shares of A. O. Smith stock in a transaction on Monday, March 4th. The stock was sold at an average price of $84.51, for a total value of $5,092,403.58. Following the transaction, the director now directly owns 56,951 shares of the company’s stock, valued at approximately $4,812,929.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,631 shares of company stock valued at $8,042,535. 2.70% of the stock is owned by company insiders.

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.