Armstrong World Industries (NYSE:AWI) Issues FY 2022 Earnings Guidance

Armstrong World Industries (NYSE:AWI – Get Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $5.000-$5.200 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.120. The company issued revenue guidance of $1.22 billion-$1.26 billion, compared to the consensus revenue estimate of $1.24 billion.Armstrong World Industries also updated its FY22 guidance to $5.00-$5.20 EPS.

A number of equities analysts have weighed in on AWI shares. Jefferies Financial Group raised shares of Armstrong World Industries from a hold rating to a buy rating and boosted their target price for the stock from $101.00 to $111.00 in a research note on Monday, March 21st. Credit Suisse Group initiated coverage on shares of Armstrong World Industries in a report on Tuesday, April 5th. They set an outperform rating and a $120.00 price objective for the company. TheStreet cut shares of Armstrong World Industries from a b- rating to a c+ rating in a report on Monday, March 21st. Loop Capital reduced their price objective on shares of Armstrong World Industries from $110.00 to $102.00 in a research note on Wednesday, February 23rd. Finally, StockNews.com downgraded Armstrong World Industries from a buy rating to a hold rating in a report on Friday, April 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $117.67.

AWI stock opened at $92.91 on Tuesday. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.03 and a beta of 1.21. The company’s 50 day moving average is $91.56. Armstrong World Industries has a twelve month low of $85.74 and a twelve month high of $118.14. The company has a current ratio of 1.54, a quick ratio of 1.11 and a debt-to-equity ratio of 1.20.

Armstrong World Industries (NYSE:AWI – Get Rating) last issued its earnings results on Tuesday, February 22nd. The construction company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.03. Armstrong World Industries had a return on equity of 40.62% and a net margin of 16.56%. The firm had revenue of $282.50 million for the quarter, compared to analysts’ expectations of $276.08 million. During the same period in the previous year, the firm posted $0.77 earnings per share. The business’s revenue was up 18.3% compared to the same quarter last year. On average, equities research analysts predict that Armstrong World Industries will post 5.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 19th. Investors of record on Thursday, May 5th will be given a $0.231 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Wednesday, May 4th. Armstrong World Industries’s payout ratio is 24.08%.

In other news, SVP Mark A. Hershey sold 1,365 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $95.11, for a total transaction of $129,825.15. Following the completion of the sale, the senior vice president now owns 45,053 shares in the company, valued at approximately $4,284,990.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

A number of hedge funds have recently bought and sold shares of AWI. Millennium Management LLC raised its position in Armstrong World Industries by 639.4% during the fourth quarter. Millennium Management LLC now owns 80,649 shares of the construction company’s stock valued at $9,365,000 after buying an additional 69,741 shares during the period. Morgan Stanley raised its holdings in shares of Armstrong World Industries by 134.7% in the 3rd quarter. Morgan Stanley now owns 57,812 shares of the construction company’s stock worth $5,520,000 after buying an additional 33,178 shares in the last quarter. Marshall Wace LLP acquired a new stake in Armstrong World Industries during the 4th quarter valued at $2,989,000. JPMorgan Chase & Co. increased its stake in shares of Armstrong World Industries by 118.1% in the 4th quarter. JPMorgan Chase & Co. now owns 45,606 shares of the construction company’s stock valued at $5,296,000 after buying an additional 24,695 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Armstrong World Industries by 9.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 89,542 shares of the construction company’s stock worth $10,398,000 after purchasing an additional 7,419 shares during the last quarter. Institutional investors own 99.57% of the company’s stock.

About Armstrong World Industries (Get Rating)

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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