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

A. O. Smith (NYSE:AOS) released its earnings results on Thursday. The industrial products company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.99 by $0.01, Briefing.com reports. A. O. Smith had a net margin of 14.94% and a return on equity of 30.94%. The business had revenue of $978.80 million during the quarter, compared to analyst estimates of $995.91 million. During the same period in the prior year, the business earned $0.94 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. 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 Price Performance

Shares of A. O. Smith stock traded up $0.39 during trading on Friday, hitting $83.21. 1,316,242 shares of the company’s stock traded hands, compared to its average volume of 1,049,093. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.65 and a quick ratio of 1.06. The firm’s fifty day moving average price is $85.71 and its 200 day moving average price is $79.85. A. O. Smith has a twelve month low of $63.88 and a twelve month high of $89.96. The company has a market cap of $12.25 billion, a PE ratio of 21.54, a PEG ratio of 2.25 and a beta of 1.25.

A. O. Smith Announces Dividend

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 given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.28 annualized dividend and a dividend yield of 1.54%. A. O. Smith’s dividend payout ratio (DPR) is currently 33.16%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. StockNews.com lowered shares of A. O. Smith from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Robert W. Baird upped their price target on shares of A. O. Smith from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday. Stifel Nicolaus reduced their price target on shares of A. O. Smith from $91.00 to $90.00 and set a “hold” rating for the company in a research report on Friday. Oppenheimer restated a “market perform” rating on shares of A. O. Smith in a research report on Thursday, April 18th. Finally, Citigroup increased 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 report on Monday, April 8th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $90.67.

Insider Activity

In other A. O. Smith 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 value of $65,120.00. Following the transaction, the director now directly owns 46,140 shares in the company, valued at $3,691,200. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other A. O. Smith 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 value of $836,990.70. Following the completion of the transaction, the vice president now directly owns 9,455 shares of the company’s stock, valued at $800,176.65. The sale was disclosed in a legal filing 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 that occurred on Wednesday, February 7th. The stock was sold at an average price of $80.00, for a total transaction of $65,120.00. Following the sale, 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. In the last three months, insiders have sold 95,631 shares of company stock worth $8,042,535. 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.