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Q3 2020 EPS Estimates for A. O. Smith Corp Lifted by Jefferies Financial Group (NYSE:AOS)

Last updated on Sunday, October 18, 2020 | 2020 MarketBeat

A. O. Smith Corp (NYSE:AOS) - Equities research analysts at Jefferies Financial Group lifted their Q3 2020 earnings estimates for shares of A. O. Smith in a research report issued to clients and investors on Wednesday, October 14th. Jefferies Financial Group analyst S. Boroditsky now forecasts that the industrial products company will earn $0.58 per share for the quarter, up from their previous forecast of $0.48. Jefferies Financial Group also issued estimates for A. O. Smith's Q4 2020 earnings at $0.61 EPS, FY2020 earnings at $1.95 EPS, Q2 2021 earnings at $0.53 EPS, Q3 2021 earnings at $0.62 EPS, Q4 2021 earnings at $0.66 EPS, FY2021 earnings at $2.38 EPS, Q2 2022 earnings at $0.57 EPS, Q3 2022 earnings at $0.66 EPS and FY2022 earnings at $2.57 EPS. A. O. Smith (NYSE:AOS) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. A. O. Smith had a return on equity of 18.38% and a net margin of 10.72%. The business had revenue of $663.90 million for the quarter, compared to analysts' expectations of $664.82 million.

Other equities research analysts have also recently issued research reports about the company. TheStreet upgraded A. O. Smith from a "c+" rating to a "b" rating in a research note on Thursday, July 30th. Oppenheimer restated a "hold" rating on shares of A. O. Smith in a research note on Thursday, July 30th. UBS Group cut A. O. Smith from a "buy" rating to a "neutral" rating and increased their price target for the company from $54.00 to $60.00 in a research note on Tuesday, October 13th. Rosenblatt Securities upgraded A. O. Smith from a "neutral" rating to a "buy" rating and increased their price target for the company from $47.00 to $62.00 in a research note on Thursday, September 17th. Finally, Zacks Investment Research raised A. O. Smith from a "hold" rating to a "buy" rating and set a $51.00 price objective on the stock in a report on Tuesday, July 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of "Hold" and a consensus target price of $47.50.

AOS opened at $55.37 on Friday. A. O. Smith has a 1-year low of $33.81 and a 1-year high of $58.05. The stock's fifty day simple moving average is $51.97 and its 200 day simple moving average is $47.22. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.17. The stock has a market cap of $8.94 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 3.89 and a beta of 1.17.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. IBM Retirement Fund acquired a new stake in shares of A. O. Smith during the 3rd quarter worth $228,000. IFM Investors Pty Ltd boosted its stake in A. O. Smith by 15.8% in the third quarter. IFM Investors Pty Ltd now owns 11,854 shares of the industrial products company's stock valued at $626,000 after buying an additional 1,616 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in A. O. Smith in the third quarter valued at about $206,000. Joel Isaacson & Co. LLC acquired a new stake in A. O. Smith in the third quarter valued at about $211,000. Finally, Avantax Advisory Services Inc. acquired a new stake in A. O. Smith in the third quarter valued at about $339,000. 78.36% of the stock is currently owned by institutional investors.

In other news, SVP Wallace E. Goodwin sold 4,800 shares of the stock in a transaction on Friday, October 9th. The stock was sold at an average price of $57.50, for a total transaction of $276,000.00. Following the sale, the senior vice president now directly owns 20,898 shares of the company's stock, valued at approximately $1,201,635. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Paul W. Jones sold 2,354 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $49.83, for a total value of $117,299.82. Following the sale, the director now directly owns 183,216 shares in the company, valued at $9,129,653.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,054 shares of company stock worth $2,384,063. Insiders own 0.29% of the company's stock.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 30th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.88%. This is a positive change from A. O. Smith's previous quarterly dividend of $0.24. The ex-dividend date is Thursday, October 29th. A. O. Smith's dividend payout ratio is currently 43.24%.

A. O. Smith Company Profile

A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for space heating applications in hospitals, schools, hotels, and other commercial buildings; and water treatment products, including on-the-go filtration bottles, point-of-use carbon and reverse osmosis products, point-of-entry water softeners, and whole-home water filtration products for residences, restaurants, hotels, and offices.

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Earnings History and Estimates for A. O. Smith (NYSE:AOS)

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10 Stocks to Buy On Fears of a Second Coronavirus Wave

Ever since the U.S. economy began to re-open (and honestly before that), there was concern over the impending “second wave” of the novel coronavirus. And although the second wave of the virus was not expected to hit until the fall, the concerns have been escalating as case numbers rise in multiple states.

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But, institutional investors are forward-looking. And right now, they don’t like what they. So stocks are having another broad selloff. However, in the midst of any selloff, there is money to be made. And the good news for investors is that many of the same stocks that were good buys in March, are still the stocks to buy right now. And while some of these stocks fit the classic definition of defensive stocks, you’ll find a few genuine growth stocks included on this list as well.

View the "10 Stocks to Buy On Fears of a Second Coronavirus Wave".

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