A. O. Smith (NYSE:AOS) Issues FY24 Earnings Guidance

A. O. Smith (NYSE:AOS) updated its FY24 earnings guidance on Friday. The company provided EPS guidance of $3.70-3.85 for the period, compared to the consensus EPS estimate of $4.06. The company issued revenue guidance of $3.99 billion, compared to the consensus revenue estimate of prior $3.95-4.10. A. O. Smith also updated its FY 2024 guidance to 3.700-3.850 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AOS. StockNews.com upgraded A. O. Smith from a hold rating to a buy rating in a research report on Tuesday. Robert W. Baird decreased their price target on shares of A. O. Smith from $92.00 to $90.00 and set a neutral rating on the stock in a research note on Wednesday, July 24th. UBS Group raised their price objective 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. Finally, Stifel Nicolaus raised shares of A. O. Smith from a hold rating to a buy rating and upped their target price for the company from $97.00 to $98.00 in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $89.67.

A. O. Smith Price Performance

Shares of AOS stock opened at $80.87 on Friday. The stock’s fifty day moving average is $82.73 and its 200-day moving average is $84.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.70. A. O. Smith has a 52 week low of $65.08 and a 52 week high of $92.44. The stock has a market capitalization of $11.79 billion, a PE ratio of 20.84, a PEG ratio of 2.40 and a beta of 1.15.

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 for the quarter, missing the consensus estimate of $1.07 by ($0.01). A. O. Smith had a net margin of 14.67% and a return on equity of 31.04%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts expect that A. O. Smith will post 4.07 EPS for the current fiscal year.

A. O. Smith Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.34 dividend. This is a boost from A. O. Smith’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, October 31st. A. O. Smith’s dividend payout ratio (DPR) is 32.99%.

Insider Activity

In other A. O. Smith news, SVP Samuel M. Carver sold 14,705 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 2,399 shares of the company’s stock, valued at approximately $194,319. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.

A. O. Smith Company Profile

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.