Armstrong World Industries (NYSE:AWI) Issues FY 2024 Earnings Guidance

Armstrong World Industries (NYSE:AWI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 6.150-6.250 for the period, compared to the consensus EPS estimate of 6.090. The company issued revenue guidance of $1.4 billion-$1.4 billion, compared to the consensus revenue estimate of $1.4 billion. Armstrong World Industries also updated its FY24 guidance to $6.15-6.25 EPS.

Analyst Ratings Changes

Several research analysts have commented on AWI shares. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Evercore ISI boosted their price objective on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research note on Wednesday. Loop Capital increased their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday. Truist Financial boosted their target price on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, UBS Group upped their target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Armstrong World Industries currently has an average rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Price Performance

AWI traded up $1.29 during midday trading on Friday, hitting $140.84. The stock had a trading volume of 49,332 shares, compared to its average volume of 309,992. Armstrong World Industries has a 1 year low of $77.73 and a 1 year high of $143.07. The company has a market cap of $6.14 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14. The business has a fifty day moving average of $131.62 and a 200 day moving average of $122.52. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.19 and a current ratio of 1.64.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $386.69 million. During the same quarter last year, the company earned $1.60 EPS. The firm’s revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts forecast that Armstrong World Industries will post 6.19 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The business also recently declared 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. This represents a $1.23 annualized dividend and a yield of 0.87%. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, November 7th. Armstrong World Industries’s dividend payout ratio (DPR) is presently 19.75%.

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.