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 (EPS) guidance of 6.150-6.250 for the period, compared to the consensus 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

A number of research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Armstrong World Industries from $148.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. UBS Group lifted their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday. Loop Capital lifted their target price on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Jefferies Financial Group lifted their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Armstrong World Industries has a consensus rating of “Hold” and a consensus target price of $140.83.

Armstrong World Industries Stock Performance

Shares of AWI traded down $0.82 during mid-day trading on Thursday, hitting $139.55. 180,222 shares of the company traded hands, compared to its average volume of 311,228. 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 stock has a 50-day moving average price of $131.62 and a two-hundred day moving average price of $122.52. Armstrong World Industries has a 1 year low of $74.37 and a 1 year high of $143.07. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 1.92 and a beta of 1.14.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The firm had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. During the same period in the previous year, the company earned $1.60 earnings per share. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. Equities analysts anticipate that Armstrong World Industries will post 6.07 earnings per share for the current year.

Armstrong World Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.88%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, November 7th. Armstrong World Industries’s 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.