Armstrong World Industries (NYSE:AWI) Updates FY 2024 Earnings Guidance

Armstrong World Industries (NYSE:AWI - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 6.150-6.250 for the period, compared to the consensus EPS estimate of 6.090. The company issued revenue guidance of $1.4 billion-$1.4 billion, compared to the consensus revenue estimate of $1.4 billion. Armstrong World Industries also updated its FY24 guidance to $6.15-6.25 EPS.

Analyst Upgrades and Downgrades

Several brokerages have commented on AWI. StockNews.com upgraded shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a report on Tuesday, August 20th. Truist Financial raised their target price on shares of Armstrong World Industries from $131.00 to $148.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Evercore ISI raised their target price on shares of Armstrong World Industries from $119.00 to $127.00 and gave the stock an "in-line" rating in a report on Wednesday, July 31st. Jefferies Financial Group raised their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Finally, UBS Group increased their price target on shares of Armstrong World Industries from $122.00 to $136.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $133.00.

Armstrong World Industries Stock Up 2.1 %

Shares of NYSE AWI traded up $2.93 during mid-day trading on Tuesday, reaching $140.23. The company had a trading volume of 471,708 shares, compared to its average volume of 312,200. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 1.92 and a beta of 1.14. The stock has a fifty day moving average of $130.59 and a two-hundred day moving average of $122.11. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.76. Armstrong World Industries has a 12-month low of $73.25 and a 12-month high of $142.33.

Armstrong World Industries (NYSE:AWI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.07. The firm had revenue of $365.10 million for the quarter, compared to analyst estimates of $360.36 million. Armstrong World Industries had a net margin of 17.92% and a return on equity of 41.53%. The company's revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.38 earnings per share. As a group, equities research analysts expect that Armstrong World Industries will post 6.07 EPS for the current year.

Armstrong World Industries Increases Dividend

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

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.