A. O. Smith (NYSE:AOS) Updates Q3 2024 Earnings Guidance

A. O. Smith (NYSE:AOS) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.820-0.820 for the period, compared to the consensus estimate of 0.950. The company issued revenue guidance of $902.6 million-$902.6 million, compared to the consensus revenue estimate of $957.7 million. A. O. Smith also updated its FY 2024 guidance to 3.700-3.850 EPS.

A. O. Smith Price Performance

Shares of NYSE:AOS opened at $80.87 on Friday. A. O. Smith has a 12 month low of $65.08 and a 12 month high of $92.44. The firm has a market capitalization of $11.79 billion, a P/E ratio of 20.84, a P/E/G ratio of 2.40 and a beta of 1.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.70 and a quick ratio of 1.07. The company’s fifty day moving average price is $82.73 and its 200 day moving average price is $84.02.

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 analysts’ consensus estimates of $1.07 by ($0.01). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. A. O. Smith had a return on equity of 31.04% and a net margin of 14.67%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 EPS. As a group, sell-side analysts predict that A. O. Smith will post 4.07 earnings per share for the current fiscal year.

A. O. Smith Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.34 dividend. This is an increase from A. O. Smith’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Thursday, October 31st. A. O. Smith’s dividend payout ratio is presently 32.99%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AOS. StockNews.com upgraded shares of A. O. Smith from a hold rating to a buy rating in a research report on Tuesday. Stifel Nicolaus upgraded A. O. Smith from a hold rating to a buy rating and boosted their price target for the company from $97.00 to $98.00 in a research report on Wednesday, July 24th. Robert W. Baird dropped their price target on shares of A. O. Smith from $92.00 to $90.00 and set a neutral rating on the stock in a research note on Wednesday, July 24th. Finally, UBS Group raised their price objective on shares of A. O. Smith from $73.00 to $75.00 and gave the company a sell rating in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat, A. O. Smith has a consensus rating of Hold and an average target price of $89.67.

Insider Transactions at A. O. Smith

In related news, SVP Samuel M. Carver sold 14,705 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $81.00, for a total transaction of $1,191,105.00. Following the sale, the senior vice president now owns 2,399 shares of the company’s stock, valued at $194,319. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.