Q1 2024 EPS Estimates for A. O. Smith Co. Boosted by Analyst (NYSE:AOS)

A. O. Smith Co. (NYSE:AOS) – Analysts at Seaport Res Ptn increased their Q1 2024 earnings per share (EPS) estimates for shares of A. O. Smith in a research note issued to investors on Sunday, April 14th. Seaport Res Ptn analyst S. Graham now expects that the industrial products company will earn $1.00 per share for the quarter, up from their previous forecast of $0.99. The consensus estimate for A. O. Smith’s current full-year earnings is $4.10 per share. Seaport Res Ptn also issued estimates for A. O. Smith’s Q2 2024 earnings at $1.11 EPS, FY2024 earnings at $4.13 EPS and Q1 2025 earnings at $1.06 EPS.

A. O. Smith (NYSE:AOS) last posted its earnings results on Tuesday, January 30th. The industrial products company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $988.10 million during the quarter, compared to the consensus estimate of $985.89 million. A. O. Smith had a return on equity of 31.05% and a net margin of 14.45%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 EPS.

A number of other brokerages also recently issued reports on AOS. Stifel Nicolaus raised their price target on A. O. Smith from $85.00 to $91.00 and gave the stock a “hold” rating in a research report on Wednesday. Jefferies Financial Group increased their target price on A. O. Smith from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Citigroup increased their target price on A. O. Smith from $82.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, StockNews.com lowered A. O. Smith from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, A. O. Smith has an average rating of “Hold” and a consensus target price of $88.50.

A. O. Smith Stock Up 1.2 %

Shares of AOS opened at $86.46 on Tuesday. The company has a market cap of $12.73 billion, a PE ratio of 23.37, a P/E/G ratio of 2.31 and a beta of 1.25. The business has a fifty day moving average of $84.98 and a 200 day moving average of $79.00. A. O. Smith has a 52-week low of $63.88 and a 52-week high of $89.96. The company has a quick ratio of 1.06, a current ratio of 1.59 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On A. O. Smith

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in A. O. Smith by 2.6% in the third quarter. State Street Corp now owns 8,804,868 shares of the industrial products company’s stock worth $427,740,000 after acquiring an additional 225,462 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in A. O. Smith by 2.2% in the third quarter. Impax Asset Management Group plc now owns 4,101,386 shares of the industrial products company’s stock worth $271,225,000 after acquiring an additional 88,025 shares in the last quarter. Invesco Ltd. boosted its holdings in A. O. Smith by 4.6% in the third quarter. Invesco Ltd. now owns 3,038,837 shares of the industrial products company’s stock worth $200,958,000 after acquiring an additional 133,339 shares in the last quarter. Robeco Schweiz AG boosted its holdings in A. O. Smith by 16.8% in the first quarter. Robeco Schweiz AG now owns 2,296,046 shares of the industrial products company’s stock worth $146,694,000 after acquiring an additional 329,539 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in A. O. Smith by 20.5% in the first quarter. Macquarie Group Ltd. now owns 2,120,008 shares of the industrial products company’s stock worth $146,599,000 after acquiring an additional 360,409 shares in the last quarter. Hedge funds and other institutional investors own 76.10% of the company’s stock.

Insider Activity

In other news, Director Idelle K. Wolf sold 814 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $80.00, for a total transaction of $65,120.00. Following the transaction, the director now owns 46,140 shares in the company, valued at $3,691,200. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other A. O. Smith news, Director Ajita G. Rajendra sold 24,669 shares of A. O. Smith stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $83.02, for a total value of $2,048,020.38. Following the transaction, the director now owns 56,951 shares in the company, valued at $4,728,072.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Idelle K. Wolf sold 814 shares of A. O. Smith 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 owns 46,140 shares in the company, valued at approximately $3,691,200. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,631 shares of company stock worth $8,042,535. Company insiders own 2.70% of the company’s stock.

A. O. Smith Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, April 29th. This represents a $1.28 annualized dividend and a dividend yield of 1.48%. A. O. Smith’s dividend payout ratio is currently 34.59%.

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.