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 Stock Down 1.0 %

AOS stock opened at $87.00 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.59 and a quick ratio of 1.06. The stock has a market capitalization of $12.81 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 2.38 and a beta of 1.25. The business’s fifty day moving average price is $85.62 and its two-hundred day moving average price is $79.73. 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 released its earnings results on Thursday, April 25th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.01. The company had revenue of $978.80 million for the quarter, compared to analyst estimates of $995.91 million. A. O. Smith had a return on equity of 31.05% and a net margin of 14.45%. A. O. Smith’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. On average, equities analysts anticipate that A. O. Smith will post 4.1 earnings per share for the current year.

A. O. Smith Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, April 29th. A. O. Smith’s dividend payout ratio (DPR) is presently 34.59%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AOS. Citigroup increased their target price 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. Jefferies Financial Group increased their target price 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. Oppenheimer reiterated a market perform rating on shares of A. O. Smith in a research report on Thursday, April 18th. StockNews.com downgraded A. O. Smith from a strong-buy rating to a buy rating in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus increased their target price 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, A. O. Smith has a consensus rating of Hold and a consensus target price of $88.50.

Insiders Place Their Bets

In other A. O. Smith news, Director Idelle K. Wolf sold 814 shares of A. O. Smith stock in a transaction that occurred on Wednesday, February 7th. The stock was 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 directly owns 46,140 shares in the company, valued at $3,691,200. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other A. O. Smith news, VP Robert J. Heideman sold 9,890 shares of A. O. Smith stock in a transaction that occurred on 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 sale, the vice president now directly owns 9,455 shares in the company, valued at $800,176.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Idelle K. Wolf sold 814 shares of A. O. Smith stock in a transaction that occurred on Wednesday, February 7th. The stock was 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 disclosure for this sale can be found here. Over the last three months, insiders sold 95,631 shares of company stock worth $8,042,535. 2.70% of the stock is owned by corporate 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.