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

Armstrong World Industries (NYSE:AWI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 5.800-6.050 for the period, compared to the consensus earnings per share estimate of 5.760. The company issued revenue guidance of $1.4 billion-$1.4 billion, compared to the consensus revenue estimate of $1.4 billion.

Wall Street Analyst Weigh In

Several research firms have commented on AWI. StockNews.com upgraded shares of Armstrong World Industries from a hold rating to a buy rating in a report on Thursday, March 28th. The Goldman Sachs Group boosted their price target on shares of Armstrong World Industries from $111.00 to $132.00 and gave the stock a buy rating in a report on Wednesday, February 21st. Truist Financial boosted their price objective on shares of Armstrong World Industries from $95.00 to $131.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Finally, UBS Group upgraded shares of Armstrong World Industries from a sell rating to a neutral rating and boosted their price objective for the stock from $75.00 to $103.00 in a research report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Armstrong World Industries has an average rating of Moderate Buy and an average target price of $104.60.

Armstrong World Industries Stock Up 1.6 %

Shares of Armstrong World Industries stock opened at $118.82 on Tuesday. The company has a market cap of $5.21 billion, a P/E ratio of 23.76, a PEG 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. Armstrong World Industries has a one year low of $62.03 and a one year high of $125.56. The firm has a fifty day moving average of $120.37 and a two-hundred day moving average of $101.29.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates 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%. Armstrong World Industries’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 EPS. On average, analysts forecast that Armstrong World Industries will post 5.74 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.94%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 22.40%.

About Armstrong World Industries

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.