A. O. Smith (NYSE:AOS) Issues Earnings Results

A. O. Smith (NYSE:AOS) issued its quarterly earnings data on Thursday. The industrial products company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.01, Briefing.com reports. A. O. Smith had a net margin of 14.45% and a return on equity of 31.05%. The firm had revenue of $978.80 million for the quarter, compared to analysts’ expectations of $995.91 million. During the same period in the prior year, the firm earned $0.94 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. 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 Trading Down 4.8 %

AOS opened at $82.85 on Friday. A. O. Smith has a fifty-two week low of $63.88 and a fifty-two week high of $89.96. The company has a market cap of $12.20 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 2.36 and a beta of 1.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.59 and a quick ratio of 1.06. The firm has a 50 day simple moving average of $85.65 and a 200 day simple moving average of $79.75.

A. O. Smith Announces Dividend

The firm also recently declared 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. This represents a $1.28 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, April 29th. A. O. Smith’s dividend payout ratio is 34.59%.

Insider Buying and Selling at A. O. Smith

In other news, Director Ajita G. Rajendra sold 24,669 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $83.02, for a total value of $2,048,020.38. Following the transaction, the director now owns 56,951 shares of the company’s stock, valued at approximately $4,728,072.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Ajita G. Rajendra sold 24,669 shares of A. O. Smith stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $83.02, for a total transaction of $2,048,020.38. Following the transaction, the director now owns 56,951 shares of the company’s stock, valued at approximately $4,728,072.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert J. Heideman sold 9,890 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $84.63, for a total transaction of $836,990.70. Following the completion of the sale, the vice president now owns 9,455 shares of the company’s stock, valued at approximately $800,176.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,631 shares of company stock valued at $8,042,535. 2.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group increased their price target on A. O. Smith from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Oppenheimer restated a “market perform” rating on shares of A. O. Smith in a research note on Thursday, April 18th. Stifel Nicolaus upped their price target on shares of A. O. Smith from $85.00 to $91.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Citigroup raised their price objective on shares of A. O. Smith from $82.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, StockNews.com lowered shares of A. O. Smith from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $88.50.

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.