Armstrong World Industries (NYSE:AWI) Announces Earnings Results

Armstrong World Industries (NYSE:AWI) announced its earnings results on Tuesday. The construction company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.07, Briefing.com reports. The firm had revenue of $365.10 million for the quarter, compared to analysts’ expectations of $360.36 million. Armstrong World Industries had a return on equity of 41.53% and a net margin of 17.92%. Armstrong World Industries’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 EPS. Armstrong World Industries updated its FY 2024 guidance to 6.000-6.150 EPS.

Armstrong World Industries Stock Down 2.0 %

NYSE:AWI traded down $2.58 during mid-day trading on Thursday, hitting $128.82. The company had a trading volume of 319,774 shares, compared to its average volume of 346,017. The business has a fifty day simple moving average of $117.40 and a 200-day simple moving average of $115.32. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 1.93 and a beta of 1.14. Armstrong World Industries has a 1 year low of $68.35 and a 1 year high of $134.90.

Armstrong World Industries Dividend Announcement

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

Analysts Set New Price Targets

AWI has been the topic of a number of analyst reports. Truist Financial increased their target price on Armstrong World Industries from $131.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday. Evercore ISI increased their target price on Armstrong World Industries from $119.00 to $127.00 and gave the stock an “in-line” rating in a research report on Wednesday. Finally, 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Armstrong World Industries has a consensus rating of “Moderate Buy” and a consensus price target of $135.75.

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.