Armstrong World Industries (NYSE:AWI) Issues 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 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.

Armstrong World Industries Stock Up 1.4 %

NYSE AWI traded up $1.64 during midday trading on Tuesday, hitting $120.49. 45,163 shares of the company traded hands, compared to its average volume of 363,600. Armstrong World Industries has a 52 week low of $62.03 and a 52 week high of $125.56. The company’s 50-day simple moving average is $120.37 and its 200-day simple moving average is $101.29. The company has a market cap of $5.28 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 current ratio of 1.61 and a quick ratio of 1.07.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, February 20th. The construction company reported $1.22 earnings per share for the quarter, beating 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%. Armstrong World Industries’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $1.08 earnings per share. As a group, equities research 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. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.28 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.12 dividend on an annualized basis and a yield of 0.93%. Armstrong World Industries’s payout ratio is 22.40%.

Wall Street Analyst Weigh In

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

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.