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

A. O. Smith (NYSE:AOS) released its earnings results on Thursday. The industrial products company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.01, Briefing.com reports. The company had revenue of $978.80 million during the quarter, compared to analysts’ expectations of $995.91 million. A. O. Smith had a net margin of 14.45% and a return on equity of 31.05%. A. O. Smith’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the business earned $0.94 EPS. 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 Price Performance

Shares of NYSE:AOS traded down $5.34 during midday trading on Thursday, hitting $81.66. The company had a trading volume of 1,154,996 shares, compared to its average volume of 966,994. The business’s 50-day simple moving average is $85.62 and its 200-day simple moving average is $79.73. The stock has a market cap of $12.02 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 2.38 and a beta of 1.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.59 and a quick ratio of 1.06. A. O. Smith has a twelve month low of $63.88 and a twelve month high of $89.96.

A. O. Smith Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Monday, April 29th. A. O. Smith’s dividend payout ratio is currently 34.59%.

Insider Buying and Selling at A. O. Smith

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AOS shares. Stifel Nicolaus upped their target price on A. O. Smith from $85.00 to $91.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Oppenheimer reissued a “market perform” rating on shares of A. O. Smith in a report on Thursday, April 18th. StockNews.com downgraded A. O. Smith from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. Citigroup raised their price target on shares of A. O. Smith from $82.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Jefferies Financial Group raised their target price on A. O. Smith from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $88.50.

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.