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

Armstrong World Industries (NYSE:AWI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.80-$6.05 for the period, compared to the consensus 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 Stock Performance

Shares of NYSE:AWI traded up $0.45 during trading on Friday, hitting $115.62. 280,098 shares of the company traded hands, compared to its average volume of 371,280. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.71 and a beta of 1.12. The business’s fifty day moving average is $120.11 and its 200-day moving average is $101.78. Armstrong World Industries has a one year low of $62.03 and a one year high of $125.56. The company has a quick ratio of 1.07, a current ratio of 1.79 and a debt-to-equity ratio of 0.93.

Armstrong World Industries (NYSE:AWI) last posted 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. The company had revenue of $326.30 million during the quarter, compared to analyst estimates of $319.44 million. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 earnings per share. As a group, equities analysts predict that Armstrong World Industries will post 5.91 earnings per share for the current fiscal 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 issued a dividend of $0.28 per share. 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 dividend payout ratio (DPR) is presently 21.05%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Armstrong World Industries from $117.00 to $119.00 and gave the stock an in-line rating in a research report on Wednesday. UBS Group boosted their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the stock a neutral rating in a research report on Wednesday. StockNews.com upgraded Armstrong World Industries from a hold rating to a buy rating in a research report on Thursday, March 28th. The Goldman Sachs Group boosted their price objective on Armstrong World Industries from $111.00 to $132.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Finally, Truist Financial boosted their price objective on Armstrong World Industries from $95.00 to $131.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to 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.