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

A. O. Smith (NYSE:AOS) issued an update on its FY 2024 earnings guidance on Thursday morning. 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 Stock Up 0.5 %

A. O. Smith stock traded up $0.39 during midday trading on Friday, hitting $83.21. 1,316,242 shares of the stock were exchanged, compared to its average volume of 1,049,093. A. O. Smith has a 52-week low of $63.88 and a 52-week high of $89.96. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.25 and a beta of 1.25. The business’s 50-day moving average price is $85.71 and its 200-day moving average price is $79.85. The company has a quick ratio of 1.06, a current ratio of 1.65 and a debt-to-equity ratio of 0.06.

A. O. Smith (NYSE:AOS) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.01. A. O. Smith had a net margin of 14.94% and a return on equity of 30.94%. The business had revenue of $978.80 million for the quarter, compared to analysts’ expectations of $995.91 million. During the same period in the previous year, the company earned $0.94 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts expect that A. O. Smith will post 4.09 EPS for the current fiscal year.

A. O. Smith Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given 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%.

Analyst Ratings Changes

AOS has been the topic of several research reports. Jefferies Financial Group lifted their price objective on shares of A. O. Smith from $85.00 to $90.00 and gave the stock a hold rating in a research report on Friday, April 12th. 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. Robert W. Baird lifted 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. Oppenheimer reissued a market perform rating on shares of A. O. Smith in a research report on Thursday, April 18th. Finally, Citigroup boosted their price target on shares of A. O. Smith from $82.00 to $95.00 and gave the company a neutral rating in a research report on Monday, April 8th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, A. O. Smith presently has an average rating of Hold and an average target price of $90.67.

Insider Buying and Selling

In related news, VP Robert J. Heideman sold 9,890 shares of the company’s stock in a transaction that occurred 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 sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Ajita G. Rajendra sold 24,669 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,728,072.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 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 $800,176.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,631 shares of company stock valued at $8,042,535. Company 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.