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 (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.

Armstrong World Industries Stock Performance

NYSE AWI traded down $0.82 during trading hours on Thursday, hitting $139.55. 180,222 shares of the company’s stock traded hands, compared to its average volume of 311,228. The business’s fifty day moving average price is $131.62 and its two-hundred day moving average price is $122.52. The company has a current ratio of 1.76, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $6.11 billion, a P/E ratio of 26.23, a P/E/G ratio of 1.92 and a beta of 1.14. Armstrong World Industries has a 52 week low of $74.37 and a 52 week high of $143.07.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. The company had revenue of $386.60 million during 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 firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.60 earnings per share. Equities research analysts predict that Armstrong World Industries will post 6.07 EPS for the current year.

Armstrong World Industries Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on AWI shares. Loop Capital upped their price target on shares of Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a research report on Wednesday. UBS Group upped their price target on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” 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 report on Tuesday, August 20th. Jefferies Financial Group upped their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Truist Financial upped their target price on shares of Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.