A. O. Smith (NYSE:AOS) Issues Quarterly Earnings Results

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

AOS stock traded up $0.39 during trading on Friday, hitting $83.21. 1,316,242 shares of the stock traded hands, compared to its average volume of 1,049,093. A. O. Smith has a one year low of $63.88 and a one year high of $89.96. The stock has a market cap of $12.25 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 2.25 and a beta of 1.25. The company has a 50 day simple moving average of $85.71 and a 200 day simple moving average of $79.85. 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 Announces Dividend

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 dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Monday, April 29th. A. O. Smith’s dividend payout ratio is currently 33.16%.

Insider Activity at A. O. Smith

In other A. O. Smith news, Director Idelle K. Wolf sold 814 shares of the business’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 transaction, the director now directly 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 is available at this hyperlink. In other news, Director Idelle K. Wolf sold 814 shares of A. O. Smith stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $80.00, for a total transaction of $65,120.00. Following the completion of the sale, the director now owns 46,140 shares in the company, valued at approximately $3,691,200. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ajita G. Rajendra sold 24,669 shares of A. O. Smith stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $83.02, for a total transaction of $2,048,020.38. Following the sale, the director now owns 56,951 shares of the company’s stock, valued at approximately $4,728,072.02. The disclosure for this sale can be found here. Insiders sold 95,631 shares of company stock valued at $8,042,535 in the last ninety days. Insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AOS. Robert W. Baird upped their price objective on shares of A. O. Smith from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday. Jefferies Financial Group raised their price target on shares of A. O. Smith from $85.00 to $90.00 and gave the company a “hold” rating in a report on Friday, April 12th. Citigroup raised their price target on shares of A. O. Smith from $82.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, April 8th. StockNews.com downgraded shares of A. O. Smith from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. Finally, Stifel Nicolaus lowered their target price on shares of A. O. Smith from $91.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, A. O. Smith has a consensus rating of “Hold” and an average 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.