Armstrong World Industries (NYSE:AWI) Releases Earnings Results

Armstrong World Industries (NYSE:AWI) issued its quarterly earnings data on Tuesday. The construction company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.07, Briefing.com reports. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The company had revenue of $365.10 million for the quarter, compared to analysts’ expectations of $360.36 million. During the same quarter in the previous year, the firm posted $1.38 earnings per share. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. Armstrong World Industries updated its FY 2024 guidance to 6.000-6.150 EPS.

Armstrong World Industries Stock Down 0.6 %

Armstrong World Industries stock traded down $0.81 during midday trading on Wednesday, hitting $131.36. The stock had a trading volume of 479,131 shares, compared to its average volume of 346,197. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 0.93. The stock has a market cap of $5.75 billion, a P/E ratio of 24.69, a P/E/G ratio of 1.97 and a beta of 1.14. Armstrong World Industries has a 12 month low of $68.35 and a 12 month high of $134.90. The business has a fifty day moving average price of $117.40 and a 200 day moving average price of $115.32.

Armstrong World Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.85%. The ex-dividend date is Thursday, August 8th. Armstrong World Industries’s dividend payout ratio is currently 21.05%.

Wall Street Analysts Forecast Growth

AWI has been the topic of a number of analyst reports. UBS Group lifted their target price on Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday. Truist Financial lifted their target price on Armstrong World Industries from $131.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Evercore ISI lifted their target price on Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Armstrong World Industries has an average rating of “Moderate Buy” and an average price target of $135.75.

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.