A. O. Smith (NYSE:AOS) Updates FY 2019 Earnings Guidance

A. O. Smith (NYSE:AOS) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.35-2.41 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.67. A. O. Smith also updated its FY19 guidance to $2.35-$2.41 EPS.

A number of research firms have recently commented on AOS. Jefferies Financial Group began coverage on shares of A. O. Smith in a research note on Wednesday, July 10th. They issued a hold rating on the stock. Robert W. Baird upped their price objective on shares of A. O. Smith from $56.00 to $62.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Edward Jones lowered shares of A. O. Smith from a buy rating to a hold rating in a research note on Monday, May 20th. ValuEngine downgraded shares of A. O. Smith from a hold rating to a sell rating in a research report on Tuesday, May 14th. Finally, DA Davidson dropped their target price on shares of A. O. Smith to $58.00 and set a buy rating on the stock in a research report on Friday, June 7th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $54.25.

Shares of A. O. Smith stock traded up $0.08 during trading on Friday, reaching $43.77. 36,641 shares of the company traded hands, compared to its average volume of 1,834,956. The company has a quick ratio of 1.82, a current ratio of 2.19 and a debt-to-equity ratio of 0.23. A. O. Smith has a 1-year low of $40.34 and a 1-year high of $61.08. The company has a 50 day moving average price of $45.43. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 2.17 and a beta of 1.56.

A. O. Smith (NYSE:AOS) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.03). A. O. Smith had a net margin of 13.71% and a return on equity of 24.31%. The company had revenue of $765.40 million for the quarter, compared to analyst estimates of $812.29 million. During the same quarter in the previous year, the firm earned $0.61 EPS. The firm’s revenue was down 8.1% on a year-over-year basis. As a group, equities research analysts forecast that A. O. Smith will post 2.38 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.01%. A. O. Smith’s payout ratio is presently 33.72%.

A. O. Smith declared that its board has initiated a share buyback plan on Monday, June 3rd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

In other A. O. Smith news, Director Paul W. Jones sold 1,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $49.50, for a total transaction of $49,500.00. Following the transaction, the director now owns 182,266 shares in the company, valued at $9,022,167. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.03% 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, 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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