A.O. Smith (AOS) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS
A.O. Smith (AOS) posted its quarterly earnings results on Friday. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters consensus estimate of $0.61 by $0.05. The company’s quarterly revenue was up 12.3% on a year-over-year basis.
A number of other analysts have also recently weighed in on AOS. Analysts at KeyBanc (NYSE: KEY) raised their EPS on shares of A.O. Smith in a research note to investors on Monday. They now have a $53.00 price target on the stock. On a related note, analysts at Sterne Agee raised their price target on shares of A.O. Smith from $48.00 to $55.00 in a research note to investors on Monday. Finally, analysts at Maxim Group raised their price target on shares of A.O. Smith from $54.00 to $58.00 in a research note to investors on Monday. They now have a “buy” rating on the stock.
Shares of A.O. Smith (AOS) traded up 1.01% during mid-day trading on Tuesday, hitting $47.02. A.O. Smith (AOS) has a one year low of $29.81 and a one year high of $47.97. The company has a market cap of $2.160 billion and a P/E ratio of 7.09.
Smith A O Corporation is a manufacturer of water heating equipment and electric motors, serving a diverse mix of residential, commercial and industrial end markets in the United States. The Company operates in two segments: Water Products and Electrical Products. The Water Products business manufactures and markets a line of residential gas and electric water heaters, standard and specialty commercial water heating equipment, high-efficiency copper-tube boilers, water treatment products and water systems tanks. The Electrical Products business manufactures and markets a line of hermetic motors, fractional horsepower alternating current (AC) and direct current (DC) motors. On April 22, 2009, A. O. Smith Corporation closed on a merger transaction with Smith Investment Company (SICO). As of December 31, 2009, the Company had net sales of approximately $2.0 billion, with 69% attributable to its Water Products business and 31% attributable to its Electrical Products business.