A. O. Smith (NYSE:AOS) Issues Q3 Earnings Guidance

A. O. Smith (NYSE:AOS) issued an update on its third quarter earnings guidance on Friday morning. The company provided EPS guidance of $0.82 for the period, compared to the consensus EPS estimate of $0.95. The company issued revenue guidance of $903 million, compared to the consensus revenue estimate of $957.82 million. A. O. Smith also updated its FY 2024 guidance to 3.700-3.850 EPS.

A. O. Smith Price Performance

Shares of NYSE AOS opened at $80.87 on Monday. A. O. Smith has a twelve month low of $65.08 and a twelve month high of $92.44. The firm has a market cap of $11.79 billion, a P/E ratio of 20.84, a PEG ratio of 2.36 and a beta of 1.15. The company has a 50 day moving average of $82.73 and a 200 day moving average of $83.96. The company has a quick ratio of 1.07, a current ratio of 1.70 and a debt-to-equity ratio of 0.07.

A. O. Smith (NYSE:AOS) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). A. O. Smith had a return on equity of 31.04% and a net margin of 14.67%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. A. O. Smith’s revenue was up 6.6% on a year-over-year basis. As a group, research analysts expect that A. O. Smith will post 4.07 EPS for the current fiscal year.

A. O. Smith Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.34 dividend. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, October 31st. A. O. Smith’s payout ratio is presently 32.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AOS shares. Robert W. Baird cut their target price on shares of A. O. Smith from $92.00 to $90.00 and set a neutral rating for the company in a research report on Wednesday, July 24th. Stifel Nicolaus raised shares of A. O. Smith from a hold rating to a buy rating and lifted their target price for the stock from $97.00 to $98.00 in a research report on Wednesday, July 24th. UBS Group lifted their target price on shares of A. O. Smith from $73.00 to $75.00 and gave the stock a sell rating in a research report on Monday, July 8th. Finally, StockNews.com raised shares of A. O. Smith from a hold rating to a buy rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $89.67.

Insider Activity

In other news, SVP Samuel M. Carver sold 14,705 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $81.00, for a total transaction of $1,191,105.00. Following the completion of the sale, the senior vice president now owns 2,399 shares of the company’s stock, valued at $194,319. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.