A. O. Smith Co. (NYSE:AOS) Forecasted to Earn Q2 2024 Earnings of $1.07 Per Share

A. O. Smith Co. (NYSE:AOS) – Investment analysts at DA Davidson issued their Q2 2024 EPS estimates for A. O. Smith in a report issued on Friday, April 26th. DA Davidson analyst M. Summerville forecasts that the industrial products company will post earnings per share of $1.07 for the quarter. The consensus estimate for A. O. Smith’s current full-year earnings is $4.09 per share. DA Davidson also issued estimates for A. O. Smith’s FY2024 earnings at $4.13 EPS and FY2025 earnings at $4.45 EPS.

A. O. Smith (NYSE:AOS) last released its quarterly 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. A. O. Smith had a net margin of 14.94% and a return on equity of 30.94%. The business had revenue of $978.80 million for the quarter, compared to analyst estimates of $995.91 million. During the same period in the previous year, the company earned $0.94 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis.

A number of other research firms also recently issued reports on AOS. Oppenheimer restated a “market perform” rating on shares of A. O. Smith in a research report on Thursday, April 18th. Robert W. Baird boosted their target price on shares of A. O. Smith from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Jefferies Financial Group boosted their target price on shares of A. O. Smith from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, April 12th. StockNews.com downgraded shares of A. O. Smith from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Finally, 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. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, A. O. Smith currently has a consensus rating of “Hold” and a consensus target price of $90.67.

A. O. Smith Trading Down 1.7 %

NYSE:AOS opened at $82.84 on Monday. A. O. Smith has a 12 month low of $63.88 and a 12 month high of $89.96. The firm has a fifty day simple moving average of $85.80 and a 200-day simple moving average of $80.09. The company has a current ratio of 1.65, a quick ratio of 1.06 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $12.19 billion, a P/E ratio of 21.46, a PEG ratio of 2.26 and a beta of 1.25.

A. O. Smith Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 1.55%. The ex-dividend date of this dividend is Monday, April 29th. A. O. Smith’s dividend payout ratio is presently 33.16%.

Insider Activity at A. O. Smith

In other A. O. Smith news, VP Robert J. Heideman sold 9,890 shares of the firm’s 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 approximately $800,176.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ajita G. Rajendra sold 60,258 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 56,951 shares in the company, valued at $4,812,929.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were 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 of the company’s stock, valued at approximately $800,176.65. The disclosure for this sale can be found here. Insiders have 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.

Hedge Funds Weigh In On A. O. Smith

Several hedge funds have recently added to or reduced their stakes in AOS. Norges Bank purchased a new stake in A. O. Smith in the fourth quarter valued at approximately $108,176,000. KBC Group NV grew its holdings in A. O. Smith by 71.2% in the fourth quarter. KBC Group NV now owns 1,173,179 shares of the industrial products company’s stock valued at $96,716,000 after purchasing an additional 487,742 shares during the period. Sei Investments Co. grew its holdings in A. O. Smith by 33.8% in the fourth quarter. Sei Investments Co. now owns 1,257,799 shares of the industrial products company’s stock valued at $103,693,000 after purchasing an additional 317,389 shares during the period. Hsbc Holdings PLC grew its holdings in A. O. Smith by 94.4% in the third quarter. Hsbc Holdings PLC now owns 548,939 shares of the industrial products company’s stock valued at $36,350,000 after purchasing an additional 266,558 shares during the period. Finally, AQR Capital Management LLC grew its holdings in A. O. Smith by 460.9% in the third quarter. AQR Capital Management LLC now owns 264,514 shares of the industrial products company’s stock valued at $17,492,000 after purchasing an additional 217,356 shares during the period. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

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.