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

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

A. O. Smith Price Performance

Shares of NYSE:AOS traded up $0.39 during midday trading on Friday, hitting $83.21. The stock had a trading volume of 1,316,242 shares, compared to its average volume of 1,049,093. The company’s 50-day moving average price is $85.71 and its 200-day moving average price is $79.85. The company has a market capitalization of $12.25 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 2.25 and a beta of 1.25. 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 has a fifty-two week low of $63.88 and a fifty-two week high of $89.96.

A. O. Smith (NYSE:AOS) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.99 by $0.01. The company had revenue of $978.80 million during the quarter, compared to analysts’ expectations of $995.91 million. A. O. Smith had a net margin of 14.94% and a return on equity of 30.94%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. As a group, equities research analysts predict 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. Investors of record on Tuesday, April 30th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis 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 subject of a number of research analyst reports. Citigroup upped their price objective 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. Jefferies Financial Group upped 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. Robert W. Baird upped 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. Stifel Nicolaus lowered their price objective on shares of A. O. Smith from $91.00 to $90.00 and set a hold rating for the company in a research report on Friday. Finally, StockNews.com lowered shares of A. O. Smith from a strong-buy rating to a buy rating in a report on Wednesday, March 6th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, A. O. Smith has a consensus rating of Hold and a consensus price target of $90.67.

Insider Activity

In other news, Director Ajita G. Rajendra sold 60,258 shares of the company’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 directly owns 56,951 shares of the company’s stock, valued at approximately $4,812,929.01. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Robert J. Heideman sold 9,890 shares of the stock in a transaction 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 transaction, the vice president now directly owns 9,455 shares of the company’s stock, valued at $800,176.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ajita G. Rajendra sold 60,258 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $84.51, for a total transaction of $5,092,403.58. Following the transaction, the director now directly owns 56,951 shares in the company, valued at $4,812,929.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,631 shares of company stock valued at $8,042,535. 2.70% of the stock is currently owned by 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.