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

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

Armstrong World Industries Stock Performance

Shares of Armstrong World Industries stock traded up $2.19 on Tuesday, reaching $139.49. 255,376 shares of the company were exchanged, compared to its average volume of 311,165. 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 company’s 50-day moving average is $130.59 and its two-hundred day moving average is $122.11. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 1.92 and a beta of 1.14. 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 quarterly earnings results on Tuesday, July 30th. The construction company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.07. The firm had revenue of $365.10 million during the quarter, compared to analyst estimates of $360.36 million. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $1.38 EPS. As a group, research analysts expect that Armstrong World Industries will post 6.07 earnings per share for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a $0.308 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.88%. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio is presently 23.12%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AWI. Jefferies Financial Group lifted their target price 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. Truist Financial upped their target price on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. 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 price target on shares of Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Evercore ISI increased their target price on shares of Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

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.