Armstrong World Industries (NYSE:AWI) Updates FY24 Earnings Guidance

Armstrong World Industries (NYSE:AWI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $6.15-6.25 for the period, compared to the consensus EPS estimate of $6.09. The company issued revenue guidance of $1.420-1.435 billion, compared to the consensus revenue estimate of $1.43 billion. Armstrong World Industries also updated its FY 2024 guidance to 6.150-6.250 EPS.

Analyst Ratings Changes

Several research analysts recently commented on the company. Evercore ISI increased their price target on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research report on Wednesday. UBS Group increased their price objective on Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday. Jefferies Financial Group boosted 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. Truist Financial increased 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 note on Wednesday. Finally, StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.00.

Armstrong World Industries Stock Performance

Armstrong World Industries stock traded up $1.13 during mid-day trading on Wednesday, hitting $141.13. 124,609 shares of the company’s stock traded hands, compared to its average volume of 311,307. Armstrong World Industries has a fifty-two week low of $74.37 and a fifty-two week high of $143.07. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 1.92 and a beta of 1.14. The firm has a 50 day simple moving average of $130.96 and a two-hundred day simple moving average of $122.28. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.76 and a quick ratio of 1.19.

Armstrong World Industries (NYSE:AWI) last posted its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. During the same quarter last year, the company posted $1.60 EPS. Armstrong World Industries’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, research analysts expect that Armstrong World Industries will post 6.07 EPS for the current fiscal year.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a $0.308 dividend. This is an increase 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 annualized dividend and a dividend yield of 0.87%. 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.