Armstrong World Industries (NYSE:AWI) Releases Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Armstrong World Industries (NYSE:AWI) posted its quarterly earnings results on Tuesday. The construction company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.13), FiscalAI reports. Armstrong World Industries had a return on equity of 37.35% and a net margin of 18.60%. The business had revenue of $475.80 million for the quarter, compared to analyst estimates of $472.62 million.

Armstrong World Industries Stock Down 1.6%

Shares of NYSE:AWI opened at $165.56 on Tuesday. Armstrong World Industries has a 52-week low of $150.28 and a 52-week high of $206.08. The company has a market capitalization of $7.00 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.52. The company has a fifty day moving average of $167.67 and a 200-day moving average of $170.54.

Armstrong World Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be issued a dividend of $0.3730 per share. This represents a $1.49 annualized dividend and a dividend yield of 0.9%. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.3390. The ex-dividend date is Thursday, November 5th. Armstrong World Industries’s dividend payout ratio (DPR) is currently 20.41%.

Analyst Ratings Changes

AWI has been the topic of several research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $190.00 price objective on shares of Armstrong World Industries in a research note on Wednesday, July 29th. DA Davidson reissued a “buy” rating and set a $215.00 target price on shares of Armstrong World Industries in a research note on Tuesday, September 1st. Truist Financial set a $230.00 target price on shares of Armstrong World Industries in a report on Tuesday, September 8th. Weiss Ratings upgraded shares of Armstrong World Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 9th. Finally, UBS Group reaffirmed a “neutral” rating and set a $203.00 price target on shares of Armstrong World Industries in a report on Wednesday, July 29th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.71.

Armstrong World Industries declared that its Board of Directors has initiated a stock repurchase program on Tuesday, July 21st that authorizes the company to repurchase $800 million in shares. This buyback authorization authorizes the construction company to purchase up to 12.3% of its shares through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc is a building products company that designs and manufactures ceiling, wall and other architectural solutions. Its products are used in commercial, institutional and residential spaces to support acoustical performance, interior design, comfort and functionality.

The company’s offerings include mineral fiber, fiberglass, metal and wood ceilings; suspension systems; acoustical clouds and canopies; wall systems; partitions; and specialty architectural products.