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

Armstrong World Industries (NYSE:AWI) updated its FY 2024 earnings guidance on Tuesday. 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

AWI has been the subject of several research reports. Jefferies Financial Group boosted their price target on Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. UBS Group increased their target price on shares of Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Truist Financial boosted their price target on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI increased their price objective on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a report on Wednesday, July 31st. Three equities research 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.00.

Armstrong World Industries Trading Up 1.0 %

Shares of NYSE AWI traded up $1.32 during trading on Tuesday, hitting $138.62. 159,299 shares of the company were exchanged, compared to its average volume of 310,705. The company has a fifty day moving average price of $130.59 and a 200-day moving average price of $122.11. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76. The firm has a market capitalization of $6.07 billion, a PE ratio of 25.81, a P/E/G ratio of 1.92 and a beta of 1.14. Armstrong World Industries has a 12-month low of $73.25 and a 12-month 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 company had revenue of $365.10 million for the quarter, compared to the consensus estimate of $360.36 million. During the same period in the previous year, the firm earned $1.38 earnings per share. Armstrong World Industries’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts expect that Armstrong World Industries will post 6.07 EPS for the current year.

Armstrong World Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders 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 dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 7th. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s payout ratio 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.