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

A. O. Smith (NYSE:AOS - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.90-$4.15 for the period, compared to the consensus earnings per share estimate of $4.08. The company issued revenue guidance of $3.970-$4.050 billion, compared to the consensus revenue estimate of $4.01 billion. A. O. Smith also updated its FY 2024 guidance to 3.900-4.150 EPS.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AOS shares. StockNews.com downgraded shares of A. O. Smith from a strong-buy rating to a buy rating in a report on Wednesday, March 6th. Oppenheimer reiterated a market perform rating on shares of A. O. Smith in a research report on Thursday, April 18th. Jefferies Financial Group boosted their price target on A. O. Smith from $85.00 to $90.00 and gave the stock a hold rating in a report on Friday, April 12th. Citigroup increased their price objective on shares of A. O. Smith from $82.00 to $95.00 and gave the company a neutral rating in a report on Monday, April 8th. Finally, Stifel Nicolaus upped their target price on shares of A. O. Smith from $85.00 to $91.00 and gave the stock a hold rating in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $88.50.

A. O. Smith Price Performance

Shares of A. O. Smith stock traded down $4.15 during trading hours on Thursday, reaching $82.85. The company's stock had a trading volume of 2,380,900 shares, compared to its average volume of 982,610. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.59 and a quick ratio of 1.06. A. O. Smith has a one year low of $63.88 and a one year high of $89.96. The firm has a 50 day moving average price of $85.65 and a 200-day moving average price of $79.75. The stock has a market cap of $12.20 billion, a P/E ratio of 22.39, a P/E/G ratio of 2.38 and a beta of 1.25.

A. O. Smith (NYSE:AOS - Get Free Report) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.01. A. O. Smith had a net margin of 14.45% and a return on equity of 31.05%. The business had revenue of $978.80 million for the quarter, compared to the consensus estimate of $995.91 million. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The business's revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts predict that A. O. Smith will post 4.1 EPS for the current year.

A. O. Smith Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Monday, April 29th. A. O. Smith's dividend payout ratio is presently 34.59%.

Insiders Place Their Bets

In other A. O. Smith news, VP Robert J. Heideman sold 9,890 shares of the company's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $84.63, for a total transaction of $836,990.70. Following the completion of the sale, the vice president now owns 9,455 shares in the company, valued at $800,176.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other A. O. Smith news, Director Idelle K. Wolf sold 814 shares of the company's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $80.00, for a total value of $65,120.00. Following the sale, the director now directly owns 46,140 shares of the company's stock, valued at $3,691,200. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert J. Heideman sold 9,890 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $84.63, for a total value of $836,990.70. Following the completion of the transaction, the vice president now directly owns 9,455 shares of the company's stock, valued at $800,176.65. The disclosure for this sale can be found here. Insiders have sold 95,631 shares of company stock worth $8,042,535 in the last ninety days. 2.70% of the stock is owned by company 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.