Armstrong World Industries (NYSE:AWI) Releases FY24 Earnings Guidance

Armstrong World Industries (NYSE:AWI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $5.80-$6.05 for the period, compared to the consensus earnings per share estimate of $5.76. The company issued revenue guidance of $1.395-$1.435 billion, compared to the consensus revenue estimate of $1.35 billion. Armstrong World Industries also updated its FY 2024 guidance to 5.800-6.050 EPS.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Truist Financial upped their price target on Armstrong World Industries from $95.00 to $131.00 and gave the stock a buy rating in a report on Wednesday, February 21st. The Goldman Sachs Group lifted their price objective on Armstrong World Industries from $111.00 to $132.00 and gave the company a buy rating in a report on Wednesday, February 21st. UBS Group raised Armstrong World Industries from a sell rating to a neutral rating and increased their target price for the stock from $75.00 to $103.00 in a report on Thursday, January 4th. Finally, StockNews.com upgraded Armstrong World Industries from a hold rating to a buy rating in a research report on Thursday, March 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $104.60.

Armstrong World Industries Trading Down 3.6 %

AWI stock traded down $4.26 during midday trading on Tuesday, hitting $114.59. 413,395 shares of the company’s stock were exchanged, compared to its average volume of 367,943. The company has a market cap of $5.02 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 1.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.07 and a current ratio of 1.61. The stock’s fifty day moving average price is $120.37 and its 200-day moving average price is $101.29. Armstrong World Industries has a one year low of $62.03 and a one year high of $125.56.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.18. The company had revenue of $312.30 million during the quarter, compared to the consensus estimate of $305.44 million. Armstrong World Industries had a net margin of 17.28% and a return on equity of 41.56%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 earnings per share. Research analysts predict that Armstrong World Industries will post 5.74 earnings per share for the current fiscal year.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.12 annualized dividend and a yield of 0.98%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 22.40%.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc, together with its subsidiaries, engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas. It operates through Mineral Fiber and Architectural Specialties segments. The company offers mineral fiber, fiberglass wool, metal, wood, felt, wood fiber, and glass-reinforced-gypsum; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings, walls, and facades for use in commercial settings; and manufactures ceiling suspension system (grid) products.