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

Armstrong World Industries (NYSE:AWI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 5.800-6.050 for the period, compared to the consensus EPS 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 Trading Up 0.4 %

NYSE:AWI traded up $0.45 during mid-day trading on Friday, reaching $115.62. 280,098 shares of the company’s stock traded hands, compared to its average volume of 371,280. Armstrong World Industries has a 12-month low of $62.03 and a 12-month high of $125.56. The company has a 50 day moving average price of $120.11 and a 200-day moving average price of $101.78. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.07. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 1.71 and a beta of 1.12.

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

Armstrong World Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be paid a $0.28 dividend. 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 currently 21.05%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AWI shares. The Goldman Sachs Group lifted their price target on shares of Armstrong World Industries from $111.00 to $132.00 and gave the company a buy rating in a research note on Wednesday, February 21st. Truist Financial boosted their price objective on shares of Armstrong World Industries from $95.00 to $131.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. UBS Group boosted their price objective on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a neutral rating in a research note on Wednesday. Evercore ISI lifted their price target 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, StockNews.com raised shares of Armstrong World Industries from a hold rating to a buy rating in a report on Thursday, March 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Armstrong World Industries currently has an average rating of Hold and an average price target of $110.17.

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.