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

A. O. Smith (NYSE:AOS) updated its FY24 earnings guidance on Tuesday. 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.

A. O. Smith Stock Performance

A. O. Smith stock opened at $82.18 on Friday. A. O. Smith has a 52 week low of $64.14 and a 52 week high of $92.44. The company has a current ratio of 1.70, a quick ratio of 1.06 and a debt-to-equity ratio of 0.07. The stock 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 stock has a 50 day moving average of $83.62 and a 200-day moving average of $83.78.

A. O. Smith (NYSE:AOS) last posted its quarterly earnings data 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 company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. A. O. Smith had a net margin of 14.67% and a return on equity of 31.04%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 earnings per share. On average, analysts expect that A. O. Smith will post 4.06 EPS for the current fiscal year.

A. O. Smith Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders 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 yield of 1.56%. The ex-dividend date of this dividend is Wednesday, July 31st. A. O. Smith’s dividend payout ratio is presently 33.16%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AOS. Oppenheimer reiterated a market perform rating on shares of A. O. Smith in a report on Thursday, April 18th. Robert W. Baird lowered their target price on A. O. Smith from $92.00 to $90.00 and set a neutral rating for the company in a report on Wednesday. Citigroup upped their price objective on A. O. Smith from $82.00 to $95.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Stifel Nicolaus raised shares of 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 report on Wednesday. Finally, UBS Group lifted 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 analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, A. O. Smith has an average rating of Hold and a consensus price target of $89.29.

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.