A. O. Smith (NYSE:AOS) Issues FY 2024 Earnings Guidance

A. O. Smith (NYSE:AOS) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 3.700-3.850 for the period, compared to the consensus earnings per share estimate of 4.060. The company issued revenue guidance of $3.8 billion-$3.9 billion, compared to the consensus revenue estimate of $4.0 billion. A. O. Smith also updated its FY24 guidance to $3.70-3.85 EPS.

Analyst Upgrades and Downgrades

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

A. O. Smith Stock Performance

Shares of A. O. Smith stock opened at $80.87 on Friday. A. O. Smith has a one year low of $65.08 and a one year high of $92.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.70. The business’s 50 day moving average price is $82.73 and its 200 day moving average price is $83.99. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.40 and a beta of 1.15.

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 business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned $1.01 EPS. On average, research analysts predict that A. O. Smith will post 4.07 EPS for the current year.

A. O. Smith Increases Dividend

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

Insiders Place Their Bets

In other news, SVP Samuel M. Carver sold 14,705 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 2,399 shares of the company’s stock, valued at approximately $194,319. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by company insiders.

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.