A.O. Smith Corp. Forecasted to Post Q3 2017 Earnings of $1.02 Per Share (AOS)
A.O. Smith Corp. (NYSE:AOS) – SunTrust Banks lifted their Q3 2017 EPS estimates for A.O. Smith Corp. in a research note issued to investors on Tuesday. SunTrust Banks analyst C. Brady now forecasts that the firm will post earnings per share of $1.02 for the quarter, up from their prior forecast of $0.97. SunTrust Banks currently has a “Buy” rating and a $90.00 price objective on the stock. SunTrust Banks also issued estimates for A.O. Smith Corp.’s Q4 2017 earnings at $1.04 EPS.
A.O. Smith Corp. (NYSE:AOS) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.08. The business had revenue of $667 million for the quarter, compared to the consensus estimate of $696.69 million. A.O. Smith Corp. had a net margin of 12.23% and a return on equity of 21.57%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share.
AOS has been the topic of several other reports. BMO Capital Markets set a $106.00 price objective on shares of A.O. Smith Corp. and gave the company a “buy” rating in a research note on Monday, August 8th. Longbow Research started coverage on shares of A.O. Smith Corp. in a research note on Friday, June 17th. They issued a “neutral” rating on the stock. Jefferies Group dropped their price objective on shares of A.O. Smith Corp. from $111.00 to $86.00 and set a “buy” rating on the stock in a research note on Friday, September 23rd. Finally, Zacks Investment Research raised shares of A.O. Smith Corp. from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Thursday, July 28th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $89.57.
A.O. Smith Corp. (NYSE:AOS) traded up 0.90% during trading on Thursday, reaching $98.79. 548,954 shares of the company’s stock traded hands. A.O. Smith Corp. has a one year low of $60.30 and a one year high of $99.40. The firm’s 50 day moving average price is $95.17 and its 200-day moving average price is $86.07. The stock has a market cap of $8.62 billion, a P/E ratio of 27.98 and a beta of 1.49. A.O. Smith Corp.’s stock is scheduled to split on Thursday, October 6th. The 2-1 split was announced on Wednesday, September 7th. The newly minted shares will be issued to shareholders after the market closes on Wednesday, October 5th.
In related news, insider Wilfridus M. Brouwer sold 6,200 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $93.29, for a total value of $578,398.00. Following the sale, the insider now directly owns 19,449 shares of the company’s stock, valued at approximately $1,814,397.21. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark D. Smith sold 1,146 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $93.76, for a total transaction of $107,448.96. Following the completion of the sale, the director now directly owns 54,850 shares in the company, valued at $5,142,736. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of AOS. Evercore Wealth Management LLC raised its position in A.O. Smith Corp. by 1.0% in the second quarter. Evercore Wealth Management LLC now owns 439,975 shares of the company’s stock worth $38,766,000 after buying an additional 4,568 shares during the period. Macquarie Group Ltd. purchased a new position in A.O. Smith Corp. during the second quarter worth about $2,420,000. Carnick & Kubik Group LLC purchased a new position in A.O. Smith Corp. during the second quarter worth about $966,000. KAMES CAPITAL plc raised its position in A.O. Smith Corp. by 5.0% in the second quarter. KAMES CAPITAL plc now owns 887,769 shares of the company’s stock worth $78,204,000 after buying an additional 42,079 shares during the period. Finally, Mason Street Advisors LLC purchased a new position in A.O. Smith Corp. during the second quarter worth about $2,991,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.
About A.O. Smith Corp.
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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