A. O. Smith (NYSE:AOS) Issues Q3 2024 Earnings Guidance

A. O. Smith (NYSE:AOS) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.820-0.820 for the period, compared to the consensus earnings per share estimate of 0.950. The company issued revenue guidance of $902.6 million-$902.6 million, compared to the consensus revenue estimate of $957.7 million. A. O. Smith also updated its FY 2024 guidance to 3.700-3.850 EPS.

A. O. Smith Price Performance

AOS opened at $86.27 on Friday. The stock’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 1 year low of $65.08 and a 1 year high of $92.44. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 2.40 and a beta of 1.15.

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

A. O. Smith Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.34 dividend. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Thursday, October 31st. A. O. Smith’s dividend payout ratio (DPR) is currently 32.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. 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 research report on Wednesday, July 24th. UBS Group raised their target price on A. O. Smith from $73.00 to $75.00 and gave the company a sell rating in a research note on Monday, July 8th. Stifel Nicolaus upgraded A. O. Smith from a hold rating to a buy rating and raised their target price for the company from $97.00 to $98.00 in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded A. O. Smith from a hold rating to a buy rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $89.67.

Insider Buying and Selling at A. O. Smith

In other A. O. Smith news, SVP Samuel M. Carver sold 14,705 shares of A. O. Smith stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $81.00, for a total transaction of $1,191,105.00. Following the completion of the transaction, the senior vice president now owns 2,399 shares in the company, valued at approximately $194,319. The trade was a 0.00 % decrease in their ownership of the stock. 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 company 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.