Armstrong World Industries (NYSE:AWI) Announces Quarterly Earnings Results

by · The Markets Daily

Armstrong World Industries (NYSE:AWI – Get Free Report) released its quarterly earnings results on Tuesday. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06, Briefing.com reports. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The business had revenue of $386.60 million for the quarter, compared to analyst estimates of $386.69 million. During the same period in the previous year, the company earned $1.60 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. Armstrong World Industries updated its FY24 guidance to $6.15-6.25 EPS and its FY 2024 guidance to 6.150-6.250 EPS.

Armstrong World Industries Stock Up 0.2 %

AWI stock opened at $140.33 on Thursday. The company has a market capitalization of $6.14 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. Armstrong World Industries has a 12 month low of $74.37 and a 12 month high of $143.07. The firm’s fifty day simple moving average is $131.30 and its 200-day simple moving average is $122.40. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.76 and a quick ratio of 1.19.

Armstrong World Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.308 per share. The ex-dividend date is Thursday, November 7th. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a yield of 0.88%. Armstrong World Industries’s dividend payout ratio (DPR) is currently 23.12%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AWI shares. StockNews.com upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Truist Financial boosted their price target on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group lifted their target price on shares of Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Financial Group upped their price target on shares of Armstrong World Industries from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI raised their price target on shares of Armstrong World Industries from $127.00 to $140.00 and gave the stock an “in-line” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $140.83.

Check Out Our Latest Research Report on Armstrong World Industries

About Armstrong World Industries

(Get Free Report)

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.

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