Armstrong World Industries (NYSE:AWI) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Armstrong World Industries (NYSE:AWI) announced its quarterly earnings data on Tuesday. The construction company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06, Briefing.com reports. The firm had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.60 earnings per share. Armstrong World Industries updated its FY24 guidance to $6.15-6.25 EPS and its FY 2024 guidance to 6.150-6.250 EPS.

Armstrong World Industries Trading Up 0.2 %

Shares of Armstrong World Industries stock opened at $140.33 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. Armstrong World Industries has a twelve month low of $74.37 and a twelve month high of $143.07. The firm has a market capitalization of $6.14 billion, a PE ratio of 26.38, a P/E/G ratio of 1.92 and a beta of 1.14. The firm’s 50-day moving average price is $131.30 and its 200 day moving average price is $122.40.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, November 7th. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio is 23.12%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Loop Capital boosted their price target on Armstrong World Industries from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday. Evercore ISI upped their target price on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a research report on Wednesday. StockNews.com upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. UBS Group upped their price objective on shares of Armstrong World Industries from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Jefferies Financial Group raised 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $140.83.

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.