Armstrong World Industries (NYSE:AWI) Announces Earnings Results, Beats Expectations By $0.07 EPS

Armstrong World Industries (NYSE:AWI) announced its earnings results on Tuesday. The construction company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.07, Briefing.com reports. Armstrong World Industries had a net margin of 18.03% and a return on equity of 41.81%. The company had revenue of $365.10 million during the quarter, compared to the consensus estimate of $360.36 million. During the same period last year, the firm earned $1.38 earnings per share. Armstrong World Industries’s revenue was up 12.2% compared to the same quarter last year. Armstrong World Industries updated its FY 2024 guidance to 6.000-6.150 EPS.

Armstrong World Industries Stock Performance

NYSE AWI traded down $0.81 on Wednesday, hitting $131.36. 479,131 shares of the company’s stock traded hands, compared to its average volume of 346,197. The firm’s 50-day moving average price is $117.40 and its two-hundred day moving average price is $115.32. The firm has a market capitalization of $5.75 billion, a PE ratio of 24.69, a P/E/G ratio of 1.97 and a beta of 1.14. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 0.93. Armstrong World Industries has a 1-year low of $68.35 and a 1-year high of $134.90.

Armstrong World Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Thursday, August 8th. Armstrong World Industries’s dividend payout ratio is presently 21.05%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AWI. Truist Financial increased 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 report on Wednesday. UBS Group raised their price target on shares of Armstrong World Industries from $122.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Evercore ISI boosted their price objective on shares of Armstrong World Industries from $119.00 to $127.00 and gave the company an “in-line” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Armstrong World Industries currently has an average rating of “Moderate Buy” and a consensus 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.