Armstrong World Industries (NYSE:AWI – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 6.000-6.150 for the period, compared to the consensus estimate of 5.910. The company issued revenue guidance of $1.4 billion-$1.4 billion, compared to the consensus revenue estimate of $1.4 billion.
Analyst Ratings Changes
AWI has been the topic of several research analyst reports. 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. Truist Financial lifted their price target on Armstrong World Industries from $131.00 to $148.00 and gave the stock a buy rating in a report on Wednesday. Finally, Evercore ISI upped their price objective on Armstrong World Industries from $119.00 to $127.00 and gave the company an in-line rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $135.75.
Read Our Latest Analysis on AWI
Armstrong World Industries Price Performance
Armstrong World Industries (NYSE:AWI – Get Free Report) last announced its quarterly earnings data 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. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. The business had revenue of $365.10 million for the quarter, compared to analysts’ expectations of $360.36 million. During the same period last year, the firm posted $1.38 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities analysts anticipate that Armstrong World Industries will post 5.89 earnings per share for the current fiscal year.
Armstrong World Industries Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be paid 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 (DPR) is presently 21.05%.
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.
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