DA Davidson Predicts A. O. Smith FY2024 Earnings

A. O. Smith Co. (NYSE:AOS) – DA Davidson issued their FY2024 EPS estimates for shares of A. O. Smith in a report released on Thursday, October 24th. DA Davidson analyst M. Summerville anticipates that the industrial products company will post earnings per share of $3.77 for the year. DA Davidson has a “Neutral” rating and a $80.00 price target on the stock. The consensus estimate for A. O. Smith’s current full-year earnings is $3.78 per share.

Several other research analysts also recently issued reports on the stock. StockNews.com downgraded shares of A. O. Smith from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group upgraded shares of A. O. Smith from a “sell” rating to a “neutral” rating and upped their target price for the stock from $75.00 to $80.00 in a research report on Wednesday, October 23rd. Robert W. Baird dropped their price objective on shares of A. O. Smith from $82.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus reduced their price objective on A. O. Smith from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $86.71.

A. O. Smith Price Performance

A. O. Smith stock opened at $77.00 on Monday. A. O. Smith has a 52 week low of $67.96 and a 52 week high of $92.44. The firm has a market cap of $11.23 billion, a P/E ratio of 20.26, a P/E/G ratio of 2.26 and a beta of 1.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.02 and a current ratio of 1.67. The business’s fifty day moving average is $82.40 and its two-hundred day moving average is $83.26.

A. O. Smith (NYSE:AOS) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $0.82 EPS for the quarter, hitting the consensus estimate of $0.82. A. O. Smith had a return on equity of 30.09% and a net margin of 14.41%. The business had revenue of $957.80 million for the quarter, compared to the consensus estimate of $960.36 million. During the same period in the previous year, the business earned $0.90 EPS.

A. O. Smith Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This is a boost from A. O. Smith’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 1.77%. A. O. Smith’s dividend payout ratio (DPR) is presently 33.68%.

Insider Buying and Selling at A. O. Smith

In other A. O. Smith news, SVP Samuel M. Carver sold 14,705 shares of the stock in a transaction dated 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 owns 2,399 shares of the company’s stock, valued at approximately $194,319. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On A. O. Smith

Several large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in A. O. Smith by 17.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,789 shares of the industrial products company’s stock worth $2,844,000 after acquiring an additional 4,636 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of A. O. Smith by 38.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,286 shares of the industrial products company’s stock valued at $920,000 after purchasing an additional 2,840 shares during the period. Diversify Advisory Services LLC bought a new stake in A. O. Smith during the 1st quarter worth approximately $212,000. Smith Group Asset Management LLC acquired a new stake in A. O. Smith during the 1st quarter worth approximately $1,571,000. Finally, BNP Paribas Financial Markets lifted its stake in A. O. Smith by 59.8% in the first quarter. BNP Paribas Financial Markets now owns 174,532 shares of the industrial products company’s stock valued at $15,614,000 after buying an additional 65,297 shares in the last quarter. Institutional investors own 76.10% of the company’s stock.

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.