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

A. O. Smith (NYSE:AOS) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $3.90-$4.15 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Jefferies Financial Group boosted 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. Oppenheimer reiterated a market perform rating on shares of A. O. Smith in a research note on Thursday, April 18th. Citigroup boosted their target price on shares of A. O. Smith from $82.00 to $95.00 and gave the stock a neutral rating in a research note on Monday, April 8th. 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. Finally, Stifel Nicolaus boosted their price target 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. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, A. O. Smith currently has an average rating of Hold and an average price target of $88.50.

A. O. Smith Price Performance

Shares of NYSE:AOS opened at $87.00 on Thursday. The company has a 50-day simple moving average of $85.62 and a 200-day simple moving average of $79.73. 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 quick ratio of 1.06 and a current ratio of 1.59. The stock has a market capitalization of $12.81 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 2.38 and a beta of 1.25.

A. O. Smith (NYSE:AOS) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. A. O. Smith had a net margin of 14.45% and a return on equity of 31.05%. The business had revenue of $978.80 million during the quarter, compared to analysts’ expectations of $995.91 million. During the same period in the prior year, the company earned $0.94 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. On average, analysts predict that A. O. Smith will post 4.1 EPS for the current year.

A. O. Smith Dividend Announcement

The firm also recently announced 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 is Monday, April 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.47%. A. O. Smith’s payout ratio is 34.59%.

Insider Activity

In other news, Director Idelle K. Wolf sold 814 shares of the business’s 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 in the company, valued at $3,691,200. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Robert J. Heideman sold 9,890 shares of the business’s 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 transaction, the vice president now directly owns 9,455 shares in the company, valued at $800,176.65. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Idelle K. Wolf sold 814 shares of the business’s 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 owns 46,140 shares in the company, valued at $3,691,200. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,631 shares of company stock valued at $8,042,535. Insiders own 2.70% of the company’s stock.

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.