Armstrong World Industries (NYSE:AWI) Updates 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 5.800-6.050 for the period, compared to the consensus earnings per share estimate of 5.760. 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 $5.80-$6.05 EPS.

Armstrong World Industries Stock Down 3.4 %

Shares of AWI stock traded down $4.09 during trading hours on Tuesday, hitting $114.76. 267,151 shares of the company’s stock traded hands, compared to its average volume of 366,166. The company has a quick ratio of 1.07, a current ratio of 1.61 and a debt-to-equity ratio of 0.99. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.79 and a beta of 1.12. The stock’s fifty day simple moving average is $120.37 and its two-hundred day simple moving average is $101.29. Armstrong World Industries has a 12-month low of $62.03 and a 12-month high of $125.56.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Tuesday, February 20th. The construction company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. The firm had revenue of $312.30 million for the quarter, compared to analysts’ expectations of $305.44 million. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.08 earnings per share. On average, analysts expect that Armstrong World Industries will post 5.74 EPS for the current year.

Armstrong World Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.12 annualized dividend and a dividend yield of 0.98%. Armstrong World Industries’s dividend payout ratio is presently 22.40%.

Analyst Ratings Changes

Several research firms recently issued reports on AWI. Truist Financial upped their price objective on Armstrong World Industries from $95.00 to $131.00 and gave the company a buy rating in a research report on Wednesday, February 21st. UBS Group upgraded Armstrong World Industries from a sell rating to a neutral rating and lifted their price objective for the stock from $75.00 to $103.00 in a report on Thursday, January 4th. StockNews.com upgraded shares of Armstrong World Industries from a hold rating to a buy rating in a research note on Thursday, March 28th. Finally, The Goldman Sachs Group raised their target price on shares of Armstrong World Industries from $111.00 to $132.00 and gave the stock a buy rating in a report on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Armstrong World Industries presently has an average rating of Moderate Buy and an average target price of $104.60.

Armstrong World Industries Company Profile

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.