Armstrong World Industries (NYSE:AWI) Issues Earnings Results, Misses Estimates By $0.13 EPS

Armstrong World Industries (NYSE:AWI) announced its quarterly earnings data on Tuesday. The construction company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.13), FiscalAI reports. Armstrong World Industries had a net margin of 18.60% and a return on equity of 37.35%. The company had revenue of $475.80 million for the quarter, compared to analysts’ expectations of $472.62 million. During the same period in the previous year, the firm posted $2.05 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis.

Armstrong World Industries Stock Performance

Shares of Armstrong World Industries stock opened at $155.78 on Tuesday. The firm has a fifty day moving average of $167.67 and a two-hundred day moving average of $170.54. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 1.64 and a beta of 1.16. Armstrong World Industries has a 52 week low of $150.28 and a 52 week high of $206.04. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.52.

Armstrong World Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be paid a $0.3730 dividend. This is an increase from Armstrong World Industries’s previous quarterly dividend of $0.3390. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.49 annualized dividend and a dividend yield of 1.0%. Armstrong World Industries’s payout ratio is 20.41%.

Analyst Ratings Changes

Several research firms have recently issued reports on AWI. Jefferies Financial Group reiterated a “hold” rating and set a $190.00 price target on shares of Armstrong World Industries in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Armstrong World Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 9th. UBS Group reiterated a “neutral” rating and issued a $203.00 target price on shares of Armstrong World Industries in a report on Wednesday, July 29th. DA Davidson reissued a “buy” rating and set a $215.00 price objective on shares of Armstrong World Industries in a research report on Tuesday, September 1st. Finally, Truist Financial set a $230.00 target price on Armstrong World Industries in a report on Tuesday, September 8th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Armstrong World Industries has an average rating of “Moderate Buy” and a consensus price target of $209.71.

Armstrong World Industries announced that its Board of Directors has authorized a stock buyback program on Tuesday, July 21st that permits the company to repurchase $800 million in shares. This buyback authorization permits the construction company to repurchase up to 12.3% of its stock through open market purchases. Share buyback programs are often an indication that the company’s management believes its shares are undervalued.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc is a building products company that designs and manufactures ceiling, wall and other architectural solutions. Its products are used in commercial, institutional and residential spaces to support acoustical performance, interior design, comfort and functionality.

The company’s offerings include mineral fiber, fiberglass, metal and wood ceilings; suspension systems; acoustical clouds and canopies; wall systems; partitions; and specialty architectural products.