Smith (A.O.) Corporation (AOS) Forecasted to Post Q3 2017 Earnings of $0.54 Per Share

Smith (A.O.) Corporation (NYSE:AOS) – KeyCorp lifted their Q3 2017 earnings estimates for Smith (A.O.) Corporation in a research report issued on Sunday. KeyCorp analyst J. Hammond now anticipates that the industrial products company will post earnings of $0.54 per share for the quarter, up from their previous forecast of $0.53. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Smith (A.O.) Corporation’s FY2017 earnings at $2.13 EPS and FY2018 earnings at $2.40 EPS.

Other analysts also recently issued research reports about the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $60.00 price target on shares of Smith (A.O.) Corporation in a research note on Friday, July 28th. Boenning Scattergood reaffirmed a “buy” rating on shares of Smith (A.O.) Corporation in a research note on Wednesday, July 26th. BidaskClub downgraded shares of Smith (A.O.) Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Smith (A.O.) Corporation in a research note on Friday, July 14th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $64.00 price target on shares of Smith (A.O.) Corporation in a research note on Wednesday, October 4th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $60.00.

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Smith (NYSE AOS) opened at 60.73 on Tuesday. The firm’s 50 day moving average price is $57.68 and its 200-day moving average price is $55.18. Smith has a 12-month low of $43.66 and a 12-month high of $61.24. The stock has a market cap of $10.48 billion, a P/E ratio of 30.83 and a beta of 1.49.

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

Several institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC raised its stake in shares of Smith (A.O.) Corporation by 289.8% during the second quarter. Lord Abbett & CO. LLC now owns 550,241 shares of the industrial products company’s stock valued at $30,995,000 after acquiring an additional 409,093 shares in the last quarter. Toronto Dominion Bank increased its holdings in Smith (A.O.) Corporation by 11.8% during the second quarter. Toronto Dominion Bank now owns 1,807 shares of the industrial products company’s stock valued at $102,000 after buying an additional 191 shares during the period. Ecofin Ltd. increased its holdings in Smith (A.O.) Corporation by 3.7% during the second quarter. Ecofin Ltd. now owns 524,291 shares of the industrial products company’s stock valued at $29,533,000 after buying an additional 18,463 shares during the period. WINTON GROUP Ltd increased its holdings in Smith (A.O.) Corporation by 22.1% during the second quarter. WINTON GROUP Ltd now owns 4,378 shares of the industrial products company’s stock valued at $247,000 after buying an additional 793 shares during the period. Finally, Mountain Capital Investment Advisors Inc purchased a new position in Smith (A.O.) Corporation during the second quarter valued at approximately $124,000. 74.00% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Paul W. Jones sold 60,000 shares of Smith (A.O.) Corporation stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $54.02, for a total transaction of $3,241,200.00. Following the completion of the sale, the director now owns 277,465 shares of the company’s stock, valued at $14,988,659.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.27% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.92%. Smith (A.O.) Corporation’s dividend payout ratio is presently 28.43%.

About Smith (A.O.) Corporation

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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