Armstrong World Industries (NYSE:AWI – Get Rating) issued an update on its FY22 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.10-$5.20 for the period, compared to the consensus earnings per share estimate of $5.02. The company issued revenue guidance of $1.225-$1.245 billion, compared to the consensus revenue estimate of $1.24 billion.
Armstrong World Industries Stock Down 1.6 %
Shares of AWI opened at $82.75 on Tuesday. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 1.25 and a beta of 1.19. Armstrong World Industries has a 1 year low of $73.25 and a 1 year high of $118.14. The business’s 50 day simple moving average is $80.09 and its 200-day simple moving average is $88.59. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.65 and a quick ratio of 1.11.
Armstrong World Industries (NYSE:AWI – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The construction company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.11). The firm had revenue of $282.60 million for the quarter, compared to analysts’ expectations of $289.61 million. Armstrong World Industries had a return on equity of 40.89% and a net margin of 16.90%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share. As a group, equities analysts expect that Armstrong World Industries will post 5.09 earnings per share for the current fiscal year.
Armstrong World Industries Dividend Announcement
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The business also recently announced a quarterly dividend, which will be paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th will be given a dividend of $0.231 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Wednesday, August 3rd. Armstrong World Industries’s dividend payout ratio is currently 22.89%.
Analyst Ratings Changes
AWI has been the topic of several research analyst reports. The Goldman Sachs Group raised Armstrong World Industries from a neutral rating to a buy rating and set a $93.00 price objective on the stock in a research report on Wednesday, July 13th. Loop Capital raised Armstrong World Industries from a hold rating to a buy rating and set a $95.00 price objective on the stock in a research report on Wednesday, June 15th. They noted that the move was a valuation call. StockNews.com downgraded Armstrong World Industries from a buy rating to a hold rating in a research report on Friday, April 8th. Truist Financial dropped their price target on Armstrong World Industries from $124.00 to $110.00 in a research report on Wednesday, April 27th. Finally, Credit Suisse Group began coverage on Armstrong World Industries in a research report on Tuesday, April 5th. They set an outperform rating and a $120.00 price target on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $113.78.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the company. Quantbot Technologies LP grew its holdings in Armstrong World Industries by 276.1% during the first quarter. Quantbot Technologies LP now owns 10,050 shares of the construction company’s stock worth $904,000 after acquiring an additional 7,378 shares during the period. American Century Companies Inc. grew its holdings in Armstrong World Industries by 28.9% during the first quarter. American Century Companies Inc. now owns 8,825 shares of the construction company’s stock worth $794,000 after acquiring an additional 1,980 shares during the period. Graham Capital Management L.P. acquired a new stake in Armstrong World Industries during the first quarter worth about $570,000. Maverick Capital Ltd. acquired a new stake in Armstrong World Industries during the first quarter worth about $535,000. Finally, Great West Life Assurance Co. Can grew its holdings in Armstrong World Industries by 17.5% during the first quarter. Great West Life Assurance Co. Can now owns 3,904 shares of the construction company’s stock worth $371,000 after acquiring an additional 582 shares during the period. 98.92% of the stock is owned by institutional investors and hedge funds.
Armstrong World Industries Company Profile
Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.
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