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

Armstrong World Industries (NYSE:AWI) updated its FY24 earnings guidance on Tuesday. 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 Trading Up 1.3 %

Shares of AWI traded up $1.54 during mid-day trading on Thursday, reaching $115.66. 220,657 shares of the company were exchanged, compared to its average volume of 369,291. Armstrong World Industries has a 52 week low of $62.03 and a 52 week high of $125.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.07 and a current ratio of 1.79. The stock has a market capitalization of $5.06 billion, a PE ratio of 21.44, a PEG ratio of 1.71 and a beta of 1.12. The business has a 50 day simple moving average of $120.22 and a two-hundred day simple moving average of $101.68.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.15. The company had revenue of $326.30 million during the quarter, compared to the consensus estimate of $319.44 million. Armstrong World Industries had a return on equity of 41.81% and a net margin of 18.03%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $1.12 earnings per share. On average, analysts predict that Armstrong World Industries will post 5.9 earnings per share for the current fiscal year.

Armstrong World Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.12 annualized dividend and a yield of 0.97%. Armstrong World Industries’s dividend payout ratio is currently 21.05%.

Analyst Ratings Changes

AWI has been the topic of a number of analyst reports. UBS Group boosted their price objective on Armstrong World Industries from $121.00 to $122.00 and gave the company a neutral rating in a research note on Wednesday. Truist Financial boosted their price objective on Armstrong World Industries from $95.00 to $131.00 and gave the company a buy rating in a research note on Wednesday, February 21st. Evercore ISI boosted their price objective on Armstrong World Industries from $117.00 to $119.00 and gave the company an in-line rating in a research note on Wednesday. StockNews.com upgraded Armstrong World Industries from a hold rating to a buy rating in a research note on Thursday, March 28th. Finally, The Goldman Sachs Group boosted their price objective on Armstrong World Industries from $111.00 to $132.00 and gave the company a buy rating in a research note on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $110.17.

About Armstrong World Industries

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.