Zacks Research Has Optimistic Outlook of AWI FY2024 Earnings

Armstrong World Industries, Inc. (NYSE:AWI - Free Report) - Analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of Armstrong World Industries in a research report issued to clients and investors on Tuesday, November 12th. Zacks Research analyst S. Mukherjee now expects that the construction company will post earnings per share of $6.19 for the year, up from their previous forecast of $6.06. The consensus estimate for Armstrong World Industries' current full-year earnings is $6.17 per share. Zacks Research also issued estimates for Armstrong World Industries' Q4 2024 earnings at $1.38 EPS, Q2 2025 earnings at $1.70 EPS, Q3 2025 earnings at $1.81 EPS, Q4 2025 earnings at $1.57 EPS, FY2025 earnings at $6.64 EPS, Q1 2026 earnings at $1.65 EPS, Q2 2026 earnings at $1.76 EPS, Q3 2026 earnings at $1.85 EPS and FY2026 earnings at $6.95 EPS.

Armstrong World Industries (NYSE:AWI - Get Free Report) last released its earnings results on Tuesday, October 29th. The construction company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company had revenue of $386.60 million for the quarter, compared to the consensus estimate of $386.69 million. During the same quarter in the previous year, the company earned $1.60 EPS. Armstrong World Industries's quarterly revenue was up 11.3% compared to the same quarter last year.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group increased 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 report on Wednesday, October 9th. Loop Capital raised their price objective on Armstrong World Industries from $135.00 to $145.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Evercore ISI raised their target price on shares of Armstrong World Industries from $127.00 to $140.00 and gave the company an "in-line" rating in a research note on Wednesday, October 30th. Truist Financial raised their price objective on Armstrong World Industries from $148.00 to $162.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Armstrong World Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $140.83.

Armstrong World Industries Stock Performance

AWI traded down $0.09 during trading hours on Thursday, hitting $153.58. The stock had a trading volume of 81,806 shares, compared to its average volume of 307,390. Armstrong World Industries has a 1 year low of $81.47 and a 1 year high of $157.51. The stock has a market cap of $6.69 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 1.98 and a beta of 1.13. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The company's fifty day simple moving average is $136.17 and its 200 day simple moving average is $124.78.

Institutional Investors Weigh In On Armstrong World Industries

Several institutional investors have recently added to or reduced their stakes in AWI. Transcendent Capital Group LLC purchased a new stake in Armstrong World Industries during the third quarter worth $26,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Armstrong World Industries during the first quarter worth $27,000. V Square Quantitative Management LLC purchased a new position in Armstrong World Industries during the third quarter worth approximately $31,000. First Horizon Advisors Inc. raised its stake in Armstrong World Industries by 33.0% during the second quarter. First Horizon Advisors Inc. now owns 504 shares of the construction company's stock worth $57,000 after purchasing an additional 125 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of Armstrong World Industries by 53.7% in the 3rd quarter. UMB Bank n.a. now owns 438 shares of the construction company's stock valued at $58,000 after buying an additional 153 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Armstrong World Industries Increases Dividend

The business 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. The ex-dividend date is Thursday, November 7th. This represents a $1.23 dividend on an annualized basis and a yield of 0.80%. This is an increase from Armstrong World Industries's previous quarterly dividend of $0.28. Armstrong World Industries's dividend payout ratio (DPR) is presently 21.69%.

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.