Armstrong World Industries, Inc. (NYSE:AWI – Free Report) – Equities research analysts at Zacks Research upped their FY2023 EPS estimates for shares of Armstrong World Industries in a research report issued on Tuesday, November 7th. Zacks Research analyst S. Mukherjee now anticipates that the construction company will post earnings of $5.11 per share for the year, up from their prior estimate of $4.92. The consensus estimate for Armstrong World Industries’ current full-year earnings is $5.13 per share. Zacks Research also issued estimates for Armstrong World Industries’ Q4 2023 earnings at $1.01 EPS, Q2 2024 earnings at $1.41 EPS, Q3 2024 earnings at $1.46 EPS, FY2024 earnings at $5.33 EPS, Q3 2025 earnings at $1.57 EPS and FY2025 earnings at $5.85 EPS.
A number of other brokerages have also recently commented on AWI. Jefferies Financial Group lifted their price objective on shares of Armstrong World Industries from $69.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday, July 13th. StockNews.com raised shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. Loop Capital lifted their price target on shares of Armstrong World Industries from $75.00 to $84.00 and gave the stock a “hold” rating in a research note on Wednesday, July 26th. Truist Financial lifted their price target on shares of Armstrong World Industries from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Finally, UBS Group lifted their price target on shares of Armstrong World Industries from $69.00 to $75.00 and gave the stock a “sell” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.75.
Armstrong World Industries Stock Performance
Shares of NYSE:AWI opened at $79.68 on Thursday. Armstrong World Industries has a 52 week low of $62.03 and a 52 week high of $83.40. The stock has a market capitalization of $3.52 billion, a P/E ratio of 15.90, a PEG ratio of 1.86 and a beta of 1.11. The firm has a fifty day simple moving average of $73.35 and a two-hundred day simple moving average of $71.96. The company has a quick ratio of 1.31, a current ratio of 1.88 and a debt-to-equity ratio of 1.07.
Armstrong World Industries (NYSE:AWI – Get Free Report) last announced its quarterly earnings results on Tuesday, October 24th. The construction company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.29. Armstrong World Industries had a net margin of 17.54% and a return on equity of 41.76%. The company had revenue of $347.30 million for the quarter, compared to the consensus estimate of $330.42 million. During the same period in the previous year, the firm posted $1.36 EPS. Armstrong World Industries’s revenue for the quarter was up 6.9% compared to the same quarter last year.
Armstrong World Industries Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Thursday, November 2nd will be issued a dividend of $0.28 per share. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $1.12 dividend on an annualized basis and a yield of 1.41%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 22.36%.
Institutional Investors Weigh In On Armstrong World Industries
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its holdings in shares of Armstrong World Industries by 182.0% in the 3rd quarter. Signaturefd LLC now owns 392 shares of the construction company’s stock valued at $28,000 after purchasing an additional 253 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Armstrong World Industries in the 1st quarter valued at about $29,000. CWM LLC raised its holdings in shares of Armstrong World Industries by 68.7% in the 2nd quarter. CWM LLC now owns 410 shares of the construction company’s stock valued at $30,000 after purchasing an additional 167 shares in the last quarter. Covestor Ltd raised its holdings in shares of Armstrong World Industries by 334.2% in the 2nd quarter. Covestor Ltd now owns 495 shares of the construction company’s stock valued at $36,000 after purchasing an additional 381 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Armstrong World Industries in the 2nd quarter valued at about $38,000. Institutional investors own 98.93% of the company’s stock.
About Armstrong World Industries
Armstrong World Industries, Inc, together with its subsidiaries, designs, manufactures, and sells ceiling and wall systems in the United States, Canada, and Latin America. It operates through Mineral Fiber and Architectural Specialties segments. The company offers suspended mineral fiber, soft fiber, fiberglass wool, and metal ceiling systems, as well as wood, wood fiber, glass-reinforced-gypsum, and felt ceiling and wall products; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings and walls for use in commercial settings; and facade and partition products.
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