A. O. Smith FY2024 EPS Forecast Reduced by Seaport Res Ptn

A. O. Smith Co. (NYSE:AOS - Free Report) - Seaport Res Ptn cut their FY2024 earnings estimates for shares of A. O. Smith in a report released on Thursday, November 14th. Seaport Res Ptn analyst S. Graham now expects that the industrial products company will earn $3.75 per share for the year, down from their prior estimate of $3.77. The consensus estimate for A. O. Smith's current full-year earnings is $3.78 per share. Seaport Res Ptn also issued estimates for A. O. Smith's Q4 2024 earnings at $0.87 EPS, Q1 2025 earnings at $0.96 EPS, Q4 2025 earnings at $1.01 EPS, Q1 2026 earnings at $1.08 EPS, Q2 2026 earnings at $1.23 EPS, Q3 2026 earnings at $1.01 EPS and FY2026 earnings at $4.44 EPS.

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

Several other equities research analysts have also recently weighed in on the stock. DA Davidson cut shares of A. O. Smith from a "buy" rating to a "neutral" rating and set a $80.00 price target for the company. in a research report on Wednesday, October 23rd. UBS Group upgraded shares of A. O. Smith from a "sell" rating to a "neutral" rating and increased their target price for the stock from $75.00 to $80.00 in a report on Wednesday, October 23rd. StockNews.com upgraded A. O. Smith from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. Stifel Nicolaus dropped their price objective on A. O. Smith from $92.00 to $91.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Finally, Robert W. Baird dropped their price target on A. O. Smith from $82.00 to $81.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $86.71.

A. O. Smith Trading Down 0.1 %

Shares of NYSE:AOS traded down $0.08 during trading on Monday, reaching $72.16. 801,748 shares of the company traded hands, compared to its average volume of 972,950. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.06. A. O. Smith has a 52-week low of $71.64 and a 52-week high of $92.44. The business's fifty day moving average is $80.47 and its 200-day moving average is $82.15. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 1.91 and a beta of 1.17.

Hedge Funds Weigh In On A. O. Smith

Several institutional investors and hedge funds have recently modified their holdings of AOS. Sarasin & Partners LLP purchased a new position in A. O. Smith in the 3rd quarter worth approximately $78,766,000. Select Equity Group L.P. raised its holdings in shares of A. O. Smith by 11.6% during the second quarter. Select Equity Group L.P. now owns 3,852,467 shares of the industrial products company's stock valued at $315,055,000 after purchasing an additional 400,304 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in A. O. Smith by 92.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 761,410 shares of the industrial products company's stock valued at $68,397,000 after purchasing an additional 365,710 shares during the period. State Street Corp boosted its holdings in A. O. Smith by 4.0% in the third quarter. State Street Corp now owns 7,721,581 shares of the industrial products company's stock worth $693,630,000 after purchasing an additional 299,766 shares during the last quarter. Finally, Confluence Investment Management LLC bought a new stake in A. O. Smith in the 2nd quarter worth approximately $22,288,000. 76.10% of the stock is currently owned by institutional investors.

A. O. Smith Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.88%. This is an increase from A. O. Smith's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, October 31st. A. O. Smith's payout ratio is 35.79%.

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.