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

Armstrong World Industries (NYSE:AWI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 6.150-6.250 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

Several analysts have weighed in on AWI shares. UBS Group boosted their price target on Armstrong World Industries from $122.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Evercore ISI lifted 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 research note on Wednesday, July 31st. Jefferies Financial Group increased their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Truist Financial boosted their target price on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.00.

Armstrong World Industries Stock Performance

Shares of NYSE AWI traded up $1.32 during midday trading on Tuesday, reaching $138.62. 159,299 shares of the stock were exchanged, compared to its average volume of 310,705. The company has a quick ratio of 1.19, a current ratio of 1.76 and a debt-to-equity ratio of 0.97. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 1.92 and a beta of 1.14. The firm has a 50-day simple moving average of $130.59 and a two-hundred day simple moving average of $122.11. Armstrong World Industries has a twelve month low of $73.25 and a twelve month high of $142.33.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $360.36 million. During the same quarter in the previous year, the company earned $1.38 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, analysts anticipate that Armstrong World Industries will post 6.07 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a $0.308 dividend. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.89%. Armstrong World Industries’s dividend payout ratio is presently 23.12%.

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.