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

A. O. Smith (NYSE:AOS) released its quarterly earnings results 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 business 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 31.22%. A. O. Smith’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $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 Price Performance

Shares of NYSE AOS traded up $2.34 during midday trading on Thursday, reaching $83.10. 581,917 shares of the stock traded hands, compared to its average volume of 950,206. 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 stock has a market capitalization of $12.19 billion, a PE ratio of 20.92, a P/E/G ratio of 2.20 and a beta of 1.15. A. O. Smith has a one year low of $64.14 and a one year high of $92.44. The company’s 50 day moving average is $83.68 and its 200 day moving average is $83.80.

A. O. Smith Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given 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 dividend yield of 1.54%. A. O. Smith’s dividend payout ratio is currently 33.16%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AOS shares. 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 report on Monday, April 8th. Robert W. Baird reduced their target price on shares of A. O. Smith from $92.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday. UBS Group increased their target price on shares of A. O. Smith from $73.00 to $75.00 and gave the stock a “sell” rating in a report on Monday, July 8th. Jefferies Financial Group increased their target price on shares of A. O. Smith from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Finally, Oppenheimer reissued a “market perform” rating on shares of A. O. Smith in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.