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

A. O. Smith (NYSE:AOS) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.90-$4.15 for the period, compared to the consensus estimate of $4.08. The company issued revenue guidance of $3.970-$4.050 billion, compared to the consensus revenue estimate of $4.01 billion. A. O. Smith also updated its FY 2024 guidance to 3.900-4.150 EPS.

A. O. Smith Stock Up 0.5 %

AOS stock opened at $83.21 on Friday. The stock’s 50 day simple moving average is $85.71 and its 200 day simple moving average is $79.92. A. O. Smith has a fifty-two week low of $63.88 and a fifty-two week high of $89.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.06 and a current ratio of 1.65. The company has a market cap of $12.25 billion, a P/E ratio of 21.56, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25.

A. O. Smith (NYSE:AOS) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.01. The business had revenue of $978.80 million for the quarter, compared to the consensus estimate of $995.91 million. A. O. Smith had a return on equity of 30.94% and a net margin of 14.94%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 EPS. On average, research analysts expect that A. O. Smith will post 4.09 earnings per share for the current fiscal year.

A. O. Smith Dividend Announcement

The firm 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. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Monday, April 29th. A. O. Smith’s payout ratio is 33.16%.

Analysts Set New Price Targets

Several equities analysts have weighed in on AOS shares. Jefferies Financial Group increased their price objective on A. O. Smith from $85.00 to $90.00 and gave the company a hold rating in a report on Friday, April 12th. StockNews.com lowered A. O. Smith from a strong-buy rating to a buy rating in a report on Wednesday, March 6th. Robert W. Baird increased their price objective on A. O. Smith from $86.00 to $92.00 and gave the company a neutral rating in a report on Friday. Oppenheimer reaffirmed a market perform rating on shares of A. O. Smith in a report on Thursday, April 18th. Finally, Citigroup raised their price target on A. O. Smith from $82.00 to $95.00 and gave the stock a neutral rating in a report on Monday, April 8th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $90.67.

Insider Buying and Selling at A. O. Smith

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