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

A. O. Smith (NYSE:AOS) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.90-$4.15 for the period, compared to the consensus earnings per share 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.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AOS. Jefferies Financial Group raised their target price on shares of A. O. Smith from $85.00 to $90.00 and gave the stock a hold rating in a report on Friday, April 12th. Stifel Nicolaus decreased their price target on shares of A. O. Smith from $91.00 to $90.00 and set a hold rating for the company in a report on Friday. StockNews.com cut shares of A. O. Smith from a strong-buy rating to a buy rating in a report on Wednesday, March 6th. Oppenheimer restated a market perform rating on shares of A. O. Smith in a report on Thursday, April 18th. Finally, Robert W. Baird raised their price target on shares of A. O. Smith from $86.00 to $92.00 and gave the stock a neutral rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, A. O. Smith currently has a consensus rating of Hold and a consensus price target of $90.67.

A. O. Smith Stock Up 0.4 %

AOS traded up $0.33 during midday trading on Friday, hitting $83.15. 1,316,242 shares of the company’s stock traded hands, compared to its average volume of 986,730. The company has a market cap of $12.24 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 2.36 and a beta of 1.25. The stock’s fifty day simple moving average is $85.71 and its 200-day simple moving average is $79.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.59 and a quick ratio of 1.06. A. O. Smith has a one year low of $63.88 and a one year high of $89.96.

A. O. Smith (NYSE:AOS) last issued its quarterly earnings data 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 net margin of 14.45% and a return on equity of 31.05%. The firm had revenue of $978.80 million for the quarter, compared to analyst estimates of $995.91 million. During the same quarter last year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts anticipate that A. O. Smith will post 4.09 earnings per share for the current fiscal year.

A. O. Smith Dividend Announcement

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

Insider Activity

In other news, VP Robert J. Heideman sold 9,890 shares of A. O. Smith stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 SEC, which is available at the SEC website. In other news, Director Ajita G. Rajendra sold 60,258 shares of the firm’s stock in a transaction on 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 sale, the director now owns 56,951 shares in the company, valued at $4,812,929.01. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Robert J. Heideman sold 9,890 shares of the firm’s 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 sale, the vice president now owns 9,455 shares in the company, valued at approximately $800,176.65. The disclosure for this sale can be found here. Insiders have sold a total of 95,631 shares of company stock valued at $8,042,535 over the last 90 days. 2.70% of the stock is currently 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.