A. O. Smith (NYSE:AOS) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

A. O. Smith (NYSE:AOS) issued its earnings results 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 business had revenue of $978.80 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. 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 Trading Up 0.5 %

Shares of NYSE:AOS traded up $0.39 during trading on Friday, reaching $83.21. The stock had a trading volume of 1,316,242 shares, compared to its average volume of 1,049,093. The business has a fifty day moving average price of $85.71 and a 200-day moving average price of $79.85. The company has a quick ratio of 1.06, a current ratio of 1.65 and a debt-to-equity ratio of 0.06. The stock has a market cap of $12.25 billion, a P/E ratio of 21.54, a PEG ratio of 2.25 and a beta of 1.25. A. O. Smith has a fifty-two week low of $63.88 and a fifty-two week high of $89.96.

A. O. Smith Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders 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 1.54%. The ex-dividend date is Monday, April 29th. A. O. Smith’s dividend payout ratio is presently 33.16%.

Analyst Ratings Changes

Several analysts recently commented on AOS shares. Citigroup raised their price objective on shares of A. O. Smith from $82.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Robert W. Baird raised 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. Oppenheimer reiterated a “market perform” rating on shares of A. O. Smith in a research note on Thursday, April 18th. Jefferies Financial Group raised their price objective on shares of A. O. Smith from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Finally, StockNews.com cut shares of A. O. Smith from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $90.67.

Insider Activity

In other news, VP Robert J. Heideman sold 9,890 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $84.63, for a total value of $836,990.70. Following the completion of the transaction, the vice president now owns 9,455 shares of the company’s stock, valued at $800,176.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Ajita G. Rajendra sold 60,258 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 56,951 shares in the company, valued at $4,812,929.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert J. Heideman sold 9,890 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 9,455 shares of the company’s stock, valued at $800,176.65. The disclosure for this sale can be found here. Insiders sold a total of 95,631 shares of company stock valued at $8,042,535 over the last 90 days. Insiders own 2.70% of the company’s stock.

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.