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

A. O. Smith (NYSE:AOS) issued its quarterly earnings data on Tuesday. The industrial products company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01), Briefing.com reports. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. A. O. Smith had a net margin of 14.67% and a return on equity of 31.04%. A. O. Smith’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 EPS. A. O. Smith updated its FY 2024 guidance to 3.950-4.100 EPS and its FY24 guidance to $3.95-4.10 EPS.

A. O. Smith Trading Up 1.8 %

NYSE:AOS opened at $82.18 on Friday. The company has a fifty day moving average of $83.62 and a 200 day moving average of $83.78. A. O. Smith has a 52 week low of $64.14 and a 52 week high of $92.44. The company has a quick ratio of 1.06, a current ratio of 1.70 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $12.05 billion, a P/E ratio of 21.29, a P/E/G ratio of 2.21 and a beta of 1.15.

A. O. Smith Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.32 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.28 dividend on an annualized basis and a yield of 1.56%. A. O. Smith’s dividend payout ratio is currently 33.16%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. UBS Group boosted their price objective on shares of A. O. Smith from $73.00 to $75.00 and gave the company a “sell” rating in a research note on Monday, July 8th. Oppenheimer reaffirmed a “market perform” rating on shares of A. O. Smith in a research note on Thursday, April 18th. Robert W. Baird reduced their price objective on shares of A. O. Smith from $92.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday. Stifel Nicolaus raised shares of A. O. Smith from a “hold” rating to a “buy” rating and boosted their price objective for the company from $97.00 to $98.00 in a research note on Wednesday. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $89.29.

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.