Armstrong World Industries (NYSE:AWI – Get Free Report) issued its earnings results on Tuesday. The construction company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06, Briefing.com reports. The business had revenue of $386.60 million during the quarter, compared to analysts’ expectations of $386.69 million. Armstrong World Industries had a return on equity of 40.67% and a net margin of 17.95%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 EPS. Armstrong World Industries updated its FY24 guidance to $6.15-6.25 EPS and its FY 2024 guidance to 6.150-6.250 EPS.
Armstrong World Industries Stock Performance
AWI traded up $1.33 during trading hours on Friday, hitting $140.88. The stock had a trading volume of 28,610 shares, compared to its average volume of 309,894. Armstrong World Industries has a 1 year low of $77.73 and a 1 year high of $143.07. The company’s fifty day simple moving average is $131.62 and its 200 day simple moving average is $122.52. The company has a quick ratio of 1.19, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The stock has a market cap of $6.14 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14.
Armstrong World Industries Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a $0.308 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Thursday, November 7th. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.28. Armstrong World Industries’s dividend payout ratio is 19.75%.
Analysts Set New Price Targets
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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.
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