Armstrong World Industries (NYSE:AWI) Posts Earnings Results, Beats Estimates By $0.15 EPS

Armstrong World Industries (NYSE:AWI) announced its quarterly earnings data on Tuesday. The construction company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.15, Yahoo Finance reports. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. The company had revenue of $326.30 million during the quarter, compared to analysts’ expectations of $319.44 million. During the same quarter in the prior year, the company posted $1.12 EPS. The business’s revenue was up 5.2% on a year-over-year basis. Armstrong World Industries updated its FY 2024 guidance to 5.800-6.050 EPS and its FY24 guidance to $5.80-$6.05 EPS.

Armstrong World Industries Stock Up 0.8 %

Shares of NYSE:AWI opened at $115.02 on Thursday. Armstrong World Industries has a 12 month low of $62.03 and a 12 month high of $125.56. The company’s 50-day moving average price is $120.22 and its two-hundred day moving average price is $101.68. The company has a quick ratio of 1.07, a current ratio of 1.79 and a debt-to-equity ratio of 0.99. The firm has a market cap of $5.03 billion, a P/E ratio of 21.44, a P/E/G ratio of 1.71 and a beta of 1.12.

Armstrong World Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio is currently 21.05%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Thursday, March 28th. Truist Financial upped their target price on shares of Armstrong World Industries from $95.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Evercore ISI upped their target price on shares of Armstrong World Industries from $117.00 to $119.00 and gave the stock an “in-line” rating in a report on Wednesday. Finally, The Goldman Sachs Group upped 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $110.17.

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.