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

Armstrong World Industries (NYSE:AWI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $6.15-6.25 for the period, compared to the consensus estimate of $6.09. The company issued revenue guidance of $1.420-1.435 billion, compared to the consensus revenue estimate of $1.43 billion.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Jefferies Financial Group raised their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Truist Financial lifted their price target on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Evercore ISI increased their price objective on shares of Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, UBS Group increased their price target on Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Armstrong World Industries presently has a consensus rating of “Moderate Buy” and an average price target of $133.00.

Armstrong World Industries Price Performance

NYSE:AWI opened at $135.37 on Tuesday. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 1.92 and a beta of 1.14. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.76 and a quick ratio of 1.19. The business has a 50 day simple moving average of $130.59 and a 200-day simple moving average of $122.11. Armstrong World Industries has a 1 year low of $73.25 and a 1 year high of $142.33.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, July 30th. The construction company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.07. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The business had revenue of $365.10 million for the quarter, compared to analyst estimates of $360.36 million. During the same period last year, the company posted $1.38 earnings per share. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. Equities analysts forecast that Armstrong World Industries will post 6.07 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.308 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.91%. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio (DPR) is presently 23.12%.

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.