A. O. Smith (NYSE:AOS) Issues Earnings Results, Misses Estimates By $0.01 EPS

A. O. Smith (NYSE:AOS) announced its quarterly earnings results on Tuesday. The industrial products company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01), Briefing.com reports. The company 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 31.22%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. A. O. Smith updated its FY 2024 guidance to 3.950-4.100 EPS and its FY24 guidance to $3.95-4.10 EPS.

A. O. Smith Stock Performance

NYSE:AOS traded up $1.42 during mid-day trading on Thursday, reaching $82.18. The stock had a trading volume of 1,505,607 shares, compared to its average volume of 956,711. A. O. Smith has a twelve month low of $64.14 and a twelve month high of $92.44. The business has a 50 day simple moving average of $83.68 and a 200 day simple moving average of $83.80. The firm has a market capitalization of $12.05 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 2.20 and a beta of 1.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.06 and a current ratio of 1.65.

A. O. Smith Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.32 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.28 annualized dividend and a yield of 1.56%. A. O. Smith’s dividend payout ratio is currently 33.16%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AOS. Citigroup increased 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 report on Monday, April 8th. Oppenheimer reiterated a “market perform” rating on shares of A. O. Smith in a research report on Thursday, April 18th. Stifel Nicolaus raised A. O. Smith from a “hold” rating to a “buy” rating and upped their target price for the company from $97.00 to $98.00 in a research report on Wednesday. Jefferies Financial Group lifted their price target on A. O. Smith from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Finally, UBS Group boosted their price objective on A. O. Smith from $73.00 to $75.00 and gave the company a “sell” rating in a research note on Monday, July 8th. One investment 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, the company has a consensus rating of “Hold” and an average 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.