Equities Analysts Set Expectations for A.O. Smith Corp.’s Q3 2016 Earnings (AOS)
A.O. Smith Corp. (NYSE:AOS) – SunTrust Banks boosted their Q3 2016 EPS estimates for shares of A.O. Smith Corp. in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst C. Brady now anticipates that the firm will post earnings per share of $0.90 for the quarter, up from their previous estimate of $0.87. SunTrust Banks currently has a “Buy” rating and a $90.00 target price on the stock. SunTrust Banks also issued estimates for A.O. Smith Corp.’s Q4 2016 earnings at $0.94 EPS, FY2016 earnings at $3.66 EPS, Q1 2017 earnings at $0.96 EPS, Q2 2017 earnings at $1.13 EPS, FY2017 earnings at $4.15 EPS and FY2018 earnings at $4.58 EPS.
Several other analysts have also commented on AOS. Longbow Research assumed coverage on shares of A.O. Smith Corp. in a research report on Friday, June 17th. They set a “neutral” rating for the company. Zacks Investment Research lowered shares of A.O. Smith Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. BMO Capital Markets set a $106.00 price target on shares of A.O. Smith Corp. and gave the company a “buy” rating in a research report on Monday, August 8th. Finally, Jefferies Group decreased their price target on shares of A.O. Smith Corp. from $111.00 to $86.00 and set a “buy” rating for the company in a research report on Friday, September 23rd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. A.O. Smith Corp. presently has an average rating of “Buy” and an average price target of $89.57.
Shares of A.O. Smith Corp. (NYSE:AOS) opened at 97.91 on Wednesday. The stock has a 50 day moving average of $95.06 and a 200-day moving average of $85.89. A.O. Smith Corp. has a 52 week low of $60.30 and a 52 week high of $99.21. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 27.73 and a beta of 1.49. Shares of A.O. Smith Corp. are going to split on the morning of Thursday, October 6th. The 2-1 split was announced on Wednesday, September 7th. The newly minted shares will be distributed to shareholders after the closing bell on Wednesday, October 5th.
A.O. Smith Corp. (NYSE:AOS) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. A.O. Smith Corp. had a net margin of 12.23% and a return on equity of 21.57%. The firm earned $667 million during the quarter, compared to analyst estimates of $696.69 million. During the same period in the previous year, the business posted $0.79 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis.
In other A.O. Smith Corp. news, insider Wilfridus M. Brouwer sold 6,200 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $93.29, for a total transaction of $578,398.00. Following the completion of the transaction, the insider now directly owns 19,449 shares of the company’s stock, valued at approximately $1,814,397.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark D. Smith sold 1,146 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $93.76, for a total transaction of $107,448.96. Following the transaction, the director now directly owns 54,850 shares of the company’s stock, valued at $5,142,736. The disclosure for this sale can be found here. Company insiders own 1.76% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AOS. FMR LLC raised its position in A.O. Smith Corp. by 1.5% in the second quarter. FMR LLC now owns 3,965,527 shares of the company’s stock worth $349,403,000 after buying an additional 57,178 shares in the last quarter. State Street Corp raised its position in A.O. Smith Corp. by 8.6% in the second quarter. State Street Corp now owns 3,867,310 shares of the company’s stock worth $340,742,000 after buying an additional 306,346 shares in the last quarter. Janus Capital Management LLC raised its position in A.O. Smith Corp. by 0.8% in the second quarter. Janus Capital Management LLC now owns 2,758,916 shares of the company’s stock worth $243,089,000 after buying an additional 21,177 shares in the last quarter. BlackRock Fund Advisors raised its position in A.O. Smith Corp. by 5.1% in the second quarter. BlackRock Fund Advisors now owns 2,652,861 shares of the company’s stock worth $233,744,000 after buying an additional 129,327 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in A.O. Smith Corp. by 5.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,275,852 shares of the company’s stock worth $200,525,000 after buying an additional 122,995 shares in the last quarter. 76.34% of the stock is owned by institutional investors.
A.O. Smith Corp. Company Profile
A. O. Smith Corporation operates its business through two segments, which include North America and Rest of World. The Company’s Rest of World segment primarily comprises China, Europe and India. The Rest of World segment supplies water heaters to the residential market in China with a range of product offering, including electric, gas, gas tankless, heat pump and solar units, as well as combi boilers.
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