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 (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. A. O. Smith also updated its FY24 guidance to $3.90-$4.15 EPS.

A. O. Smith Stock Performance

A. O. Smith stock traded down $4.15 during trading on Thursday, reaching $82.85. The company had a trading volume of 2,380,900 shares, compared to its average volume of 982,610. A. O. Smith has a 52 week low of $63.88 and a 52 week high of $89.96. The firm’s 50-day simple moving average is $85.65 and its 200 day simple moving average is $79.75. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 2.38 and a beta of 1.25. The company has a current ratio of 1.59, a quick ratio of 1.06 and a debt-to-equity ratio of 0.06.

A. O. Smith (NYSE:AOS) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. The business 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 31.05% and a net margin of 14.45%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. Sell-side analysts forecast that A. O. Smith will post 4.1 earnings per share for the current fiscal year.

A. O. Smith Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.32 per share. The ex-dividend date 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 presently 34.59%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AOS shares. StockNews.com cut A. O. Smith from a strong-buy rating to a buy rating in a report on Wednesday, March 6th. Stifel Nicolaus raised their price objective on A. O. Smith from $85.00 to $91.00 and gave the company a hold rating in a research report on Wednesday, April 17th. Oppenheimer restated a market perform rating on shares of A. O. Smith in a research report on Thursday, April 18th. 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 report on Monday, April 8th. Finally, Jefferies Financial Group raised their price objective on A. O. Smith from $85.00 to $90.00 and gave the company a hold rating in a research report on Friday, April 12th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $88.50.

Insider Buying and Selling

In related news, VP Robert J. Heideman sold 9,890 shares of A. O. Smith 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 completion of 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 at this hyperlink. In other A. O. Smith news, Director Idelle K. Wolf sold 814 shares of the firm’s 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 sale, the director now owns 46,140 shares of the company’s stock, valued at $3,691,200. 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 firm’s 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 sale, the vice president now directly owns 9,455 shares of the company’s stock, valued at approximately $800,176.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,631 shares of company stock worth $8,042,535. Corporate insiders own 2.70% of the company’s stock.

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.