Brokerages expect A. O. Smith Corp (NYSE:AOS) to announce sales of $765.95 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for A. O. Smith’s earnings, with the lowest sales estimate coming in at $748.70 million and the highest estimate coming in at $804.00 million. A. O. Smith posted sales of $754.10 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.6%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, October 29th.
According to Zacks, analysts expect that A. O. Smith will report full-year sales of $3.08 billion for the current financial year, with estimates ranging from $3.04 billion to $3.11 billion. For the next fiscal year, analysts expect that the business will report sales of $3.22 billion, with estimates ranging from $3.14 billion to $3.31 billion. Zacks’ sales averages are an average based on a survey of research firms that cover A. O. Smith.
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). The company had revenue of $765.40 million during the quarter, compared to analyst estimates of $812.29 million. A. O. Smith had a net margin of 13.71% and a return on equity of 24.31%. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 EPS.
AOS has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on A. O. Smith in a report on Wednesday, July 10th. They issued a “hold” rating on the stock. Northcoast Research reaffirmed a “buy” rating on shares of A. O. Smith in a report on Wednesday, October 2nd. ValuEngine raised A. O. Smith from a “sell” rating to a “hold” rating in a report on Friday, August 16th. Zacks Investment Research lowered A. O. Smith from a “hold” rating to a “sell” rating and set a $48.00 price objective on the stock. in a report on Wednesday, June 26th. Finally, TheStreet raised A. O. Smith from a “c+” rating to a “b-” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $54.85.
Shares of NYSE:AOS traded up $1.66 during trading on Friday, reaching $48.00. The company had a trading volume of 80,568 shares, compared to its average volume of 1,365,045. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 2.18 and a beta of 1.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.19 and a quick ratio of 1.74. The stock’s fifty day moving average price is $47.05 and its 200 day moving average price is $47.69. A. O. Smith has a fifty-two week low of $40.34 and a fifty-two week high of $56.66.
In other A. O. Smith news, Chairman Ajita G. Rajendra sold 16,556 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $49.47, for a total value of $819,025.32. Following the sale, the chairman now owns 78,163 shares of the company’s stock, valued at $3,866,723.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Helen E. Gurholt sold 1,263 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $45.82, for a total value of $57,870.66. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in A. O. Smith by 0.4% in the second quarter. Vanguard Group Inc. now owns 16,033,885 shares of the industrial products company’s stock valued at $756,157,000 after purchasing an additional 63,150 shares during the last quarter. BlackRock Inc. grew its holdings in A. O. Smith by 20.6% in the second quarter. BlackRock Inc. now owns 11,696,207 shares of the industrial products company’s stock valued at $551,594,000 after purchasing an additional 1,994,155 shares during the last quarter. Pictet Asset Management Ltd. grew its holdings in A. O. Smith by 23.5% in the second quarter. Pictet Asset Management Ltd. now owns 3,319,315 shares of the industrial products company’s stock valued at $156,539,000 after purchasing an additional 632,037 shares during the last quarter. Invesco Ltd. grew its holdings in A. O. Smith by 11.4% in the second quarter. Invesco Ltd. now owns 2,693,018 shares of the industrial products company’s stock valued at $127,003,000 after purchasing an additional 274,714 shares during the last quarter. Finally, Viking Global Investors LP acquired a new stake in A. O. Smith in the second quarter valued at $115,641,000. 76.20% of the stock is currently owned by institutional investors.
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.
Recommended Story: Institutional Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for A. O. Smith Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for A. O. Smith and related companies with MarketBeat.com's FREE daily email newsletter.