A. O. Smith (NYSE:AOS) Releases Q3 Earnings Guidance

A. O. Smith (NYSE:AOS) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.82 for the period, compared to the consensus estimate of $0.95. The company issued revenue guidance of $903 million, compared to the consensus revenue estimate of $957.82 million. A. O. Smith also updated its FY24 guidance to $3.70-3.85 EPS.

A. O. Smith Trading Down 1.6 %

Shares of NYSE AOS opened at $86.27 on Friday. The company’s 50 day simple moving average is $82.76 and its 200 day simple moving average is $84.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.70 and a quick ratio of 1.07. A. O. Smith has a fifty-two week low of $65.08 and a fifty-two week high of $92.44. The firm has a market capitalization of $12.58 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.40 and a beta of 1.15.

A. O. Smith (NYSE:AOS) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. A. O. Smith had a net margin of 14.67% and a return on equity of 31.04%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. On average, analysts predict that A. O. Smith will post 4.07 EPS for the current year.

A. O. Smith Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.36 dividend on an annualized basis and a yield of 1.58%. This is a boost from A. O. Smith’s previous quarterly dividend of $0.32. A. O. Smith’s payout ratio is currently 32.99%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AOS. UBS Group lifted their price target on shares of A. O. Smith from $73.00 to $75.00 and gave the stock a sell rating in a research report on Monday, July 8th. StockNews.com upgraded A. O. Smith from a hold rating to a buy rating in a report on Tuesday. Robert W. Baird cut their price objective on A. O. Smith from $92.00 to $90.00 and set a neutral rating on the stock in a report on Wednesday, July 24th. Finally, Stifel Nicolaus upgraded 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 report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $89.67.

Insider Transactions at A. O. Smith

In related news, SVP Samuel M. Carver sold 14,705 shares of A. O. Smith stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $81.00, for a total value of $1,191,105.00. Following the sale, the senior vice president now owns 2,399 shares of the company’s stock, valued at approximately $194,319. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is owned by insiders.

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.