Armstrong World Industries (NYSE:AWI) Posts Earnings Results

Armstrong World Industries (NYSE:AWI) posted its quarterly earnings data on Tuesday. The construction company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.07, Briefing.com reports. The firm had revenue of $365.10 million during the quarter, compared to analyst estimates of $360.36 million. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $1.38 EPS. Armstrong World Industries updated its FY 2024 guidance to 6.000-6.150 EPS.

Armstrong World Industries Trading Down 1.5 %

Shares of NYSE:AWI traded down $1.98 during midday trading on Thursday, reaching $129.42. 455,883 shares of the company’s stock were exchanged, compared to its average volume of 346,943. Armstrong World Industries has a fifty-two week low of $68.35 and a fifty-two week high of $134.90. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.76 and a quick ratio of 1.22. The firm’s 50 day simple moving average is $117.40 and its two-hundred day simple moving average is $115.32. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 1.93 and a beta of 1.14.

Armstrong World Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, August 8th. This represents a $1.12 annualized dividend and a yield of 0.87%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 21.05%.

Analyst Ratings Changes

A number of research firms recently issued reports on AWI. Evercore ISI boosted their price objective on Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a research note on Wednesday. UBS Group increased their target price on Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Truist Financial raised their price objective on shares of Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.75.

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.