Armstrong World Industries (NYSE:AWI) Issues Earnings Results

Armstrong World Industries (NYSE:AWI) posted its quarterly earnings data on Tuesday. The construction company reported $2.26 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $475.80 million for the quarter, compared to the consensus estimate of $472.62 million.

Armstrong World Industries Price Performance

Shares of NYSE:AWI opened at $165.56 on Tuesday. The firm has a 50 day moving average of $167.67 and a 200-day moving average of $170.54. Armstrong World Industries has a 12 month low of $150.28 and a 12 month high of $206.08. The company has a current ratio of 1.52, a quick ratio of 1.06 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $7.00 billion, a PE ratio of 22.68, a PEG ratio of 1.64 and a beta of 1.16.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be given a $0.3730 dividend. This represents a $1.49 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, November 5th. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.3390. Armstrong World Industries’s dividend payout ratio is presently 20.41%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AWI. UBS Group reissued a “neutral” rating and issued a $203.00 price objective on shares of Armstrong World Industries in a report on Wednesday, July 29th. Jefferies Financial Group reaffirmed a “hold” rating and set a $190.00 target price on shares of Armstrong World Industries in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Armstrong World Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Truist Financial set a $230.00 price target on Armstrong World Industries in a research note on Tuesday, September 8th. Finally, DA Davidson reiterated a “buy” rating and issued a $215.00 price target on shares of Armstrong World Industries in a research note on Tuesday, September 1st. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock 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 approved a stock repurchase plan on Tuesday, July 21st that permits the company to repurchase $800 million in shares. This repurchase authorization permits the construction company to purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

About Armstrong World Industries

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.