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

A. O. Smith (NYSE:AOS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.95-4.10 for the period, compared to the consensus estimate of $4.09. The company issued revenue guidance of +3-5% yr/yr to ~$3.97-4.05 billion, compared to the consensus revenue estimate of $3.99 billion. A. O. Smith also updated its FY 2024 guidance to 3.950-4.100 EPS.

Analyst Ratings Changes

Several research analysts have weighed in on AOS shares. Robert W. Baird lowered their price target on A. O. Smith from $92.00 to $90.00 and set a neutral rating on the stock in a research report on Wednesday. Stifel Nicolaus upgraded shares of A. O. Smith from a hold rating to a buy rating and boosted their target price for the stock from $97.00 to $98.00 in a report on Wednesday. UBS Group increased their price target on shares of A. O. Smith from $73.00 to $75.00 and gave the company a sell rating in a research note on Monday, July 8th. Citigroup lifted 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 report on Monday, April 8th. Finally, Oppenheimer reaffirmed a market perform rating on shares of A. O. Smith in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $89.29.

A. O. Smith Stock Up 1.8 %

Shares of AOS opened at $82.18 on Friday. The firm has a market cap of $12.05 billion, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 2.21 and a beta of 1.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.06 and a current ratio of 1.70. A. O. Smith has a 52 week low of $64.14 and a 52 week high of $92.44. The firm’s 50-day simple moving average is $83.62 and its 200 day simple moving average is $83.78.

A. O. Smith (NYSE:AOS) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. A. O. Smith had a net margin of 14.67% and a return on equity of 31.04%. A. O. Smith’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. On average, analysts forecast that A. O. Smith will post 4.06 earnings per share for the current year.

A. O. Smith Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, July 31st. A. O. Smith’s dividend payout ratio is currently 33.16%.

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.