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

A. O. Smith (NYSE:AOS) issued its earnings results on Thursday. The industrial products company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.01, Briefing.com reports. The company 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 firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company 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 Stock Down 6.0 %

NYSE:AOS traded down $5.21 during mid-day trading on Thursday, hitting $81.79. 344,604 shares of the company’s stock were exchanged, compared to its average volume of 955,811. A. O. Smith has a one year low of $63.88 and a one year high of $89.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.59 and a quick ratio of 1.06. The business has a fifty day moving average price of $85.62 and a 200 day moving average price of $79.73. The company has a market cap of $12.04 billion, a PE ratio of 23.51, a P/E/G ratio of 2.38 and a beta of 1.25.

A. O. Smith Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Monday, April 29th. A. O. Smith’s dividend payout ratio is currently 34.59%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of A. O. Smith from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Stifel Nicolaus boosted their price objective on shares of A. O. Smith from $85.00 to $91.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Jefferies Financial Group boosted their price objective on shares of A. O. Smith from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Oppenheimer restated a “market perform” rating on shares of A. O. Smith in a research report on Thursday, April 18th. Finally, Citigroup boosted their price objective on shares of A. O. Smith from $82.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $88.50.

Insider Buying and Selling

In other news, Director Ajita G. Rajendra sold 60,258 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $84.51, for a total value of $5,092,403.58. Following the transaction, the director now owns 56,951 shares in the company, valued at $4,812,929.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Ajita G. Rajendra sold 60,258 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $84.51, for a total value of $5,092,403.58. Following the transaction, the director now owns 56,951 shares in the company, valued at $4,812,929.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Idelle K. Wolf sold 814 shares of the business’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 transaction of $65,120.00. Following the transaction, the director now directly owns 46,140 shares of the company’s stock, valued at $3,691,200. The disclosure for this sale can be found here. Insiders have sold 95,631 shares of company stock valued at $8,042,535 over the last quarter. Corporate 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.