Smith (A.O.) Corporation Forecasted to Earn FY2018 Earnings of $2.35 Per Share (AOS)

Smith (A.O.) Corporation (NYSE:AOS) – Investment analysts at Gabelli boosted their FY2018 EPS estimates for Smith (A.O.) Corporation in a report issued on Thursday. Gabelli analyst A. Lacayo now anticipates that the industrial products company will earn $2.35 per share for the year, up from their previous estimate of $2.30. Gabelli also issued estimates for Smith (A.O.) Corporation’s FY2019 earnings at $2.55 EPS.

Smith (A.O.) Corporation (NYSE:AOS) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. Smith (A.O.) Corporation had a net margin of 12.10% and a return on equity of 22.25%. The firm had revenue of $738.20 million during the quarter, compared to analysts’ expectations of $729.33 million. During the same period last year, the business earned $0.49 earnings per share. Smith (A.O.) Corporation’s revenue was up 10.7% compared to the same quarter last year.

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Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. KeyCorp reiterated a “sector weight” rating on shares of Smith (A.O.) Corporation in a report on Friday, April 28th. They noted that the move was a valuation call. Jefferies Group LLC reiterated a “buy” rating on shares of Smith (A.O.) Corporation in a report on Friday, July 14th. BidaskClub lowered shares of Smith (A.O.) Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $60.00 price objective on shares of Smith (A.O.) Corporation in a report on Friday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Smith (A.O.) Corporation presently has an average rating of “Buy” and an average target price of $66.80.

Shares of Smith (NYSE:AOS) traded up 0.70% during midday trading on Friday, hitting $54.29. 1,596,940 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $56.48 and its 200 day moving average price is $52.60. The firm has a market cap of $9.49 billion, a PE ratio of 27.56 and a beta of 1.53. Smith has a one year low of $43.66 and a one year high of $57.97.

A number of hedge funds have recently modified their holdings of AOS. Atria Investments LLC purchased a new stake in shares of Smith (A.O.) Corporation during the first quarter valued at about $215,000. Bank of Montreal Can increased its stake in shares of Smith (A.O.) Corporation by 22.5% in the first quarter. Bank of Montreal Can now owns 64,835 shares of the industrial products company’s stock valued at $3,316,000 after buying an additional 11,895 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of Smith (A.O.) Corporation by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 44,800 shares of the industrial products company’s stock valued at $2,291,000 after buying an additional 800 shares during the period. Creative Planning increased its stake in shares of Smith (A.O.) Corporation by 130.9% in the first quarter. Creative Planning now owns 2,949 shares of the industrial products company’s stock valued at $151,000 after buying an additional 1,672 shares during the period. Finally, Peregrine Capital Management LLC increased its stake in shares of Smith (A.O.) Corporation by 7.4% in the first quarter. Peregrine Capital Management LLC now owns 604,850 shares of the industrial products company’s stock valued at $30,726,000 after buying an additional 41,424 shares during the period. 74.88% of the stock is owned by institutional investors.

In related news, VP James F. Stern sold 25,200 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $54.45, for a total transaction of $1,372,140.00. Following the completion of the sale, the vice president now owns 176,583 shares of the company’s stock, valued at approximately $9,614,944.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John J. Kita sold 12,200 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $56.32, for a total transaction of $687,104.00. Following the sale, the insider now directly owns 85,067 shares of the company’s stock, valued at approximately $4,790,973.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,928 shares of company stock valued at $7,960,678. Corporate insiders own 1.27% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, July 27th. Smith (A.O.) Corporation’s dividend payout ratio (DPR) is presently 28.43%.

Smith (A.O.) Corporation Company Profile

A. O. Smith Corporation operates through two segments: North America and Rest of World. The Company’s Rest of World segment primarily consists of China, Europe and India. Both segments manufacture and market comprehensive lines of residential and commercial gas, gas tankless and electric water heaters, as well as water treatment products.

Earnings History and Estimates for Smith (A.O.) Corporation (NYSE:AOS)

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