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

A. O. Smith (NYSE:AOS) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.820-0.820 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Robert W. Baird cut their price target on A. O. Smith from $92.00 to $90.00 and set a neutral rating for the company in a research note on Wednesday, July 24th. Stifel Nicolaus upgraded shares of A. O. Smith from a hold rating to a buy rating and lifted their target price for the stock from $97.00 to $98.00 in a research note on Wednesday, July 24th. StockNews.com upgraded shares of A. O. Smith from a hold rating to a buy rating in a research note on Tuesday. Finally, UBS Group lifted their price objective on shares of A. O. Smith from $73.00 to $75.00 and gave the company a sell rating in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $89.67.

A. O. Smith Stock Performance

NYSE AOS opened at $86.27 on Friday. The company’s 50 day simple moving average is $82.76 and its two-hundred day simple moving average is $84.07. The stock has a market capitalization of $12.58 billion, a PE ratio of 22.23, a P/E/G ratio of 2.40 and a beta of 1.15. 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.

A. O. Smith (NYSE:AOS) last posted its quarterly earnings data 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). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. A. O. Smith had a net margin of 14.67% and a return on equity of 31.04%. A. O. Smith’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. Analysts predict that A. O. Smith will post 4.07 earnings per share for the current fiscal year.

A. O. Smith Increases Dividend

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

Insider Buying and Selling at A. O. Smith

In other news, SVP Samuel M. Carver sold 14,705 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $81.00, for a total value of $1,191,105.00. Following the transaction, the senior vice president now owns 2,399 shares of the company’s stock, valued at $194,319. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently 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.