Armstrong World Industries (NYSE:AWI) announced its earnings results on Monday. The construction company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.16), Bloomberg Earnings reports. Armstrong World Industries had a return on equity of 46.62% and a net margin of 11.44%. The business had revenue of $214.30 million for the quarter, compared to analyst estimates of $263.06 million. During the same quarter last year, the company posted $0.41 EPS. Armstrong World Industries’s quarterly revenue was up 9.1% on a year-over-year basis. Armstrong World Industries updated its FY18 guidance to $3.53-3.75 EPS.
Armstrong World Industries (AWI) traded down $3.00 during midday trading on Monday, reaching $58.45. 226,726 shares of the company traded hands, compared to its average volume of 388,966. The stock has a market capitalization of $3,250.02, a PE ratio of 22.43, a P/E/G ratio of 1.69 and a beta of 1.73. Armstrong World Industries has a 52-week low of $41.20 and a 52-week high of $64.60. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 2.25.
Several equities research analysts have recently weighed in on AWI shares. Jefferies Group started coverage on shares of Armstrong World Industries in a research note on Tuesday, December 12th. They set a “hold” rating and a $62.00 target price for the company. SunTrust Banks reiterated a “buy” rating and set a $62.00 target price on shares of Armstrong World Industries in a research note on Wednesday, November 22nd. Royal Bank of Canada reiterated a “hold” rating and set a $55.00 target price on shares of Armstrong World Industries in a research note on Wednesday, November 15th. Zacks Investment Research upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Monday, November 27th. Finally, Nomura set a $65.00 price target on shares of Armstrong World Industries and gave the stock a “buy” rating in a report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $56.50.
Armstrong World Industries declared that its board has initiated a stock repurchase program on Monday, October 30th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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About Armstrong World Industries
Armstrong World Industries, Inc (AWI) is a global producer of ceiling systems. The Company owns and operates the Building Products (Ceilings) segment. The Company designs, manufactures and sells ceiling systems (primarily mineral fiber, fiberglass wool and metal) around the world. Its products are used in commercial and institutional buildings.
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