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

A. O. Smith (NYSE:AOS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.90-$4.15 for the period, compared to the consensus estimate of $4.08. The company issued revenue guidance of $3.970-$4.050 billion, compared to the consensus revenue estimate of $4.01 billion. A. O. Smith also updated its FY 2024 guidance to 3.900-4.150 EPS.

A. O. Smith Stock Performance

Shares of AOS stock traded up $0.33 during mid-day trading on Friday, hitting $83.15. The stock had a trading volume of 1,316,242 shares, compared to its average volume of 986,730. 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 fifty-two week low of $63.88 and a fifty-two week high of $89.96. The company’s 50-day simple moving average is $85.71 and its 200-day simple moving average is $79.85. The firm has a market cap of $12.24 billion, a PE ratio of 22.47, a PEG ratio of 2.36 and a beta of 1.25.

A. O. Smith (NYSE:AOS) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.99 by $0.01. The firm 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%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 earnings per share. Sell-side analysts anticipate that A. O. Smith will post 4.09 earnings per share for the current year.

A. O. Smith Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Monday, April 29th. A. O. Smith’s payout ratio is currently 34.59%.

Analyst Ratings Changes

Several analysts have recently issued reports on AOS shares. Citigroup upped their price objective on A. O. Smith from $82.00 to $95.00 and gave the company a neutral rating in a research report on Monday, April 8th. Robert W. Baird upped their target price on shares of A. O. Smith from $86.00 to $92.00 and gave the company a neutral rating in a report on Friday. Jefferies Financial Group lifted their price target on shares of A. O. Smith from $85.00 to $90.00 and gave the stock a hold rating in a report on Friday, April 12th. Oppenheimer reissued a market perform rating on shares of A. O. Smith in a research note on Thursday, April 18th. Finally, Stifel Nicolaus lowered their target price on shares of A. O. Smith from $91.00 to $90.00 and set a hold rating for the company in a research note on Friday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $90.67.

Insiders Place Their Bets

In other A. O. Smith news, Director Ajita G. Rajendra sold 24,669 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $83.02, for a total value of $2,048,020.38. Following the sale, the director now directly owns 56,951 shares of the company’s stock, valued at approximately $4,728,072.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Robert J. Heideman sold 9,890 shares of A. O. Smith stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $84.63, for a total value of $836,990.70. Following the transaction, the vice president now directly owns 9,455 shares of the company’s stock, valued at approximately $800,176.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ajita G. Rajendra sold 24,669 shares of A. O. Smith stock in a transaction dated 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 directly owns 56,951 shares in the company, valued at $4,728,072.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,631 shares of company stock valued at $8,042,535. Insiders own 2.70% of the company’s stock.

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.