Armstrong World Industries (NYSE:AWI – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 5.800-6.050 for the period, compared to the consensus earnings per share estimate of 5.760. 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 $5.80-$6.05 EPS.
Analysts Set New Price Targets
AWI has been the subject of several research analyst reports. UBS Group upgraded Armstrong World Industries from a sell rating to a neutral rating and boosted their price objective for the company from $75.00 to $103.00 in a research report on Thursday, January 4th. The Goldman Sachs Group increased their price target on Armstrong World Industries from $111.00 to $132.00 and gave the company a buy rating in a research report on Wednesday, February 21st. StockNews.com raised Armstrong World Industries from a hold rating to a buy rating in a research report on Thursday, March 28th. Finally, Truist Financial raised their target price on shares of Armstrong World Industries from $95.00 to $131.00 and gave the company a buy rating in a research note on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $104.60.
Read Our Latest Stock Analysis on AWI
Armstrong World Industries Stock Performance
Armstrong World Industries (NYSE:AWI – Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.18. The business had revenue of $312.30 million during the quarter, compared to the consensus estimate of $305.44 million. Armstrong World Industries had a return on equity of 41.56% and a net margin of 17.28%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 EPS. As a group, research analysts predict that Armstrong World Industries will post 5.74 earnings per share for the current year.
Armstrong World Industries Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Wednesday, May 8th. Armstrong World Industries’s dividend payout ratio is currently 22.40%.
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.
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