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

A. O. Smith (NYSE:AOS) posted its earnings results on Thursday. The industrial products company reported $1.00 EPS for the quarter, topping 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 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 company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $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

Shares of AOS stock traded down $5.34 on Thursday, reaching $81.66. The company’s stock had a trading volume of 1,154,996 shares, compared to its average volume of 966,994. A. O. Smith has a 12-month low of $63.88 and a 12-month high of $89.96. The stock’s 50 day simple moving average is $85.62 and its 200-day simple moving average is $79.73. The company has a quick ratio of 1.06, a current ratio of 1.59 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $12.02 billion, a P/E ratio of 22.06, a PEG ratio of 2.38 and a beta of 1.25.

A. O. Smith Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.28 annualized dividend and a dividend yield of 1.57%. A. O. Smith’s payout ratio is currently 34.59%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AOS shares. Stifel Nicolaus lifted their price target on A. O. Smith from $85.00 to $91.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. StockNews.com downgraded shares of A. O. Smith from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. Oppenheimer restated a “market perform” rating on shares of A. O. Smith in a research report on Thursday, April 18th. 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, Jefferies Financial Group raised their price target on shares of A. O. Smith from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $88.50.

Insiders Place Their Bets

In related news, Director Idelle K. Wolf sold 814 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $80.00, for a total value of $65,120.00. Following the transaction, the director now directly owns 46,140 shares in the company, valued at $3,691,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Idelle K. Wolf sold 814 shares of the 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 transaction, the director now directly owns 46,140 shares in the company, valued at approximately $3,691,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert J. Heideman sold 9,890 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $84.63, for a total transaction of $836,990.70. Following the transaction, the vice president now owns 9,455 shares in the company, valued at $800,176.65. The disclosure for this sale can be found here. Insiders have sold 95,631 shares of company stock worth $8,042,535 in the last ninety days. 2.70% of the stock is currently owned by insiders.

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.