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

A. O. Smith (NYSE:AOS) updated its third quarter earnings guidance on Friday. The company provided earnings per share guidance of $0.82 for the period, compared to the consensus earnings per share estimate of $0.95. The company issued revenue guidance of $903 million, compared to the consensus revenue estimate of $957.82 million. A. O. Smith also updated its FY24 guidance to $3.70-3.85 EPS.

Analyst Ratings Changes

Several equities analysts have recently commented on AOS shares. StockNews.com upgraded A. O. Smith from a hold rating to a buy rating in a report on Tuesday. Robert W. Baird reduced their price target 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, July 24th. UBS Group increased 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. Finally, Stifel Nicolaus raised shares of A. O. Smith from a hold rating to a buy rating and boosted their price objective for the stock 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 assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $89.67.

A. O. Smith Price Performance

Shares of AOS opened at $86.27 on Friday. The company has a 50 day moving average of $82.76 and a two-hundred day moving average of $84.07. The company has a market cap of $12.58 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15. The company has a quick ratio of 1.07, a current ratio of 1.70 and a debt-to-equity ratio of 0.07. A. O. Smith has a twelve month low of $65.08 and a twelve month high of $92.44.

A. O. Smith (NYSE:AOS) last announced its earnings results 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 return on equity of 31.04% and a net margin of 14.67%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The firm’s quarterly 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 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 is a positive change from A. O. Smith’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, October 31st. A. O. Smith’s dividend payout ratio (DPR) is presently 32.99%.

Insiders Place Their Bets

In related news, SVP Samuel M. Carver sold 14,705 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was 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 directly owns 2,399 shares of the company’s stock, valued at $194,319. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is owned by 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.