A. O. Smith (NYSE:AOS) Announces Quarterly Earnings Results

A. O. Smith (NYSE:AOS) announced its quarterly earnings results on Thursday. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.01, Briefing.com reports. The firm had revenue of $978.80 million for the quarter, compared to analyst estimates of $995.91 million. A. O. Smith had a net margin of 14.94% and a return on equity of 30.94%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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

NYSE AOS traded up $0.39 on Friday, hitting $83.21. 1,316,242 shares of the company were exchanged, compared to its average volume of 1,049,093. The firm has a 50 day moving average of $85.71 and a two-hundred day moving average of $79.85. The company has a market cap of $12.25 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.25 and a beta of 1.25. The company has a current ratio of 1.65, a quick ratio of 1.06 and a debt-to-equity ratio of 0.06. A. O. Smith has a 1-year low of $63.88 and a 1-year high of $89.96.

A. O. Smith Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.28 annualized dividend and a yield of 1.54%. A. O. Smith’s dividend payout ratio (DPR) is 33.16%.

Insider Buying and Selling

In other A. O. Smith news, Director Idelle K. Wolf sold 814 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was 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 directly owns 46,140 shares of the company’s stock, valued at approximately $3,691,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other A. O. Smith news, Director Idelle K. Wolf sold 814 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was 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 directly owns 46,140 shares of the company’s stock, valued at approximately $3,691,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ajita G. Rajendra sold 24,669 shares of the business’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 $4,728,072.02. The disclosure for this sale can be found here. Insiders have sold a total of 95,631 shares of company stock worth $8,042,535 in the last 90 days. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Oppenheimer restated a “market perform” rating on shares of A. O. Smith in a research note on Thursday, April 18th. StockNews.com downgraded shares of A. O. Smith from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Robert W. Baird boosted their target price on shares of A. O. Smith from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday. Citigroup boosted their target price on shares of A. O. Smith from $82.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus reduced their target price on shares of A. O. Smith from $91.00 to $90.00 and set a “hold” rating on the stock 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 stock. Based on data from MarketBeat, A. O. Smith currently has an average rating of “Hold” and an average target price of $90.67.

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.