Armstrong World Industries (NYSE:AWI) Updates FY24 Earnings Guidance

Armstrong World Industries (NYSE:AWI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $5.80-$6.05 for the period, compared to the consensus EPS estimate of $5.76. The company issued revenue guidance of $1.395-$1.435 billion, compared to the consensus revenue estimate of $1.35 billion. Armstrong World Industries also updated its FY 2024 guidance to 5.800-6.050 EPS.

Armstrong World Industries Price Performance

Shares of AWI stock traded up $1.54 during trading hours on Thursday, hitting $115.66. The company’s stock had a trading volume of 220,657 shares, compared to its average volume of 369,291. The business has a fifty day moving average of $120.22 and a 200-day moving average of $101.68. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 1.71 and a beta of 1.12. Armstrong World Industries has a twelve month low of $62.03 and a twelve month high of $125.56. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.99.

Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.15. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. The company had revenue of $326.30 million for the quarter, compared to analyst estimates of $319.44 million. During the same quarter last year, the business earned $1.12 EPS. Armstrong World Industries’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts anticipate that Armstrong World Industries will post 5.9 EPS for the current year.

Armstrong World Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend 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 research analysts have recently commented on AWI shares. StockNews.com raised shares of Armstrong World Industries from a hold rating to a buy rating in a report on Thursday, March 28th. Evercore ISI lifted 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. UBS Group lifted their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a neutral rating in a report on Wednesday. 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 report on Wednesday, February 21st. Finally, Truist Financial boosted their target price on shares of Armstrong World Industries from $95.00 to $131.00 and gave the company a buy rating in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Armstrong World Industries presently has a consensus 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.