Armstrong World Industries (NYSE:AWI) Releases 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. Armstrong World Industries also updated its FY24 guidance to $5.80-$6.05 EPS.

Armstrong World Industries Stock Up 0.1 %

AWI stock traded up $0.15 during trading on Thursday, hitting $114.27. 116,508 shares of the company’s stock were exchanged, compared to its average volume of 368,151. The business has a 50-day moving average price of $120.22 and a two-hundred day moving average price of $101.68. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 1.71 and a beta of 1.12. Armstrong World Industries has a 52-week low of $62.03 and a 52-week high of $125.56.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.15. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. The company had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $319.44 million. During the same quarter last year, the company earned $1.12 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts expect that Armstrong World Industries will post 5.9 EPS for the current year.

Armstrong World Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio (DPR) is currently 21.05%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AWI. Truist Financial raised their price target on Armstrong World Industries from $95.00 to $131.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. The Goldman Sachs Group upped their price target on shares of Armstrong World Industries from $111.00 to $132.00 and gave the company a buy rating in a research report on Wednesday, February 21st. StockNews.com raised shares of Armstrong World Industries from a hold rating to a buy rating in a research report on Thursday, March 28th. Evercore ISI upped their target price on shares of Armstrong World Industries from $117.00 to $119.00 and gave the company an in-line rating in a report on Wednesday. Finally, UBS Group increased their target price on shares of Armstrong World Industries from $121.00 to $122.00 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. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $110.17.

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.