Armstrong World Industries (NYSE:AWI) Releases FY 2024 Earnings Guidance

Armstrong World Industries (NYSE:AWI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 5.800-6.050 for the period, compared to the consensus 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.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AWI. StockNews.com upgraded shares of Armstrong World Industries from a hold rating to a buy rating in a report on Thursday, March 28th. Truist Financial boosted 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. UBS Group boosted their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a neutral rating in a report on Wednesday. The Goldman Sachs Group upped their price target on shares of Armstrong World Industries from $111.00 to $132.00 and gave the company a buy rating in a report on Wednesday, February 21st. Finally, Evercore ISI upped their price target on shares of Armstrong World Industries from $117.00 to $119.00 and gave the company an in-line rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $110.17.

Armstrong World Industries Stock Performance

Shares of NYSE:AWI traded up $0.45 during midday trading on Friday, reaching $115.62. The company’s stock had a trading volume of 280,098 shares, compared to its average volume of 371,280. The firm has a market capitalization of $5.06 billion, a PE ratio of 21.79, a P/E/G ratio of 1.71 and a beta of 1.12. The company has a quick ratio of 1.07, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. The stock has a fifty day moving average of $120.11 and a 200 day moving average of $101.78. Armstrong World Industries has a twelve month low of $62.03 and a twelve month high of $125.56.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.15. The business had revenue of $326.30 million for the quarter, compared to the consensus estimate of $319.44 million. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. On average, equities analysts expect that Armstrong World Industries will post 5.91 EPS for the current fiscal year.

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 annualized dividend and a yield of 0.97%. The ex-dividend date is Wednesday, May 8th. Armstrong World Industries’s payout ratio is 21.05%.

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.