Armstrong World Industries (NYSE:AWI) Releases FY22 Earnings Guidance

Armstrong World Industries (NYSE:AWIGet Rating) issued an update on its FY22 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.00-$5.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.08. The company issued revenue guidance of $1.215-$1.255 billion, compared to the consensus revenue estimate of $1.24 billion.Armstrong World Industries also updated its FY 2022 guidance to $5.000-$5.200 EPS.

A number of research analysts have recently commented on AWI shares. Jefferies Financial Group upgraded shares of Armstrong World Industries from a hold rating to a buy rating and upped their price target for the stock from $101.00 to $111.00 in a report on Monday, March 21st. StockNews.com downgraded shares of Armstrong World Industries from a buy rating to a hold rating in a research note on Friday, April 8th. TheStreet cut Armstrong World Industries from a b- rating to a c+ rating in a research note on Monday, March 21st. Loop Capital decreased their target price on Armstrong World Industries from $110.00 to $102.00 in a research report on Wednesday, February 23rd. Finally, UBS Group assumed coverage on Armstrong World Industries in a research report on Wednesday, January 19th. They set a sell rating and a $103.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $117.67.

Shares of Armstrong World Industries stock traded down $6.10 on Tuesday, reaching $86.81. The stock had a trading volume of 16,526 shares, compared to its average volume of 432,362. The company has a quick ratio of 1.11, a current ratio of 1.54 and a debt-to-equity ratio of 1.20. The stock has a market cap of $4.12 billion, a PE ratio of 24.32, a P/E/G ratio of 1.03 and a beta of 1.21. The firm’s 50 day moving average price is $91.56. Armstrong World Industries has a 1 year low of $85.74 and a 1 year high of $118.14.

Armstrong World Industries (NYSE:AWIGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The construction company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.11). Armstrong World Industries had a return on equity of 40.62% and a net margin of 16.56%. The business had revenue of $282.60 million for the quarter, compared to analyst estimates of $289.61 million. During the same period in the previous year, the company posted $0.84 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, equities research analysts anticipate that Armstrong World Industries will post 5.12 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 19th. Shareholders of record on Thursday, May 5th will be issued a $0.231 dividend. This represents a $0.92 annualized dividend and a yield of 1.06%. The ex-dividend date is Wednesday, May 4th. Armstrong World Industries’s dividend payout ratio is presently 24.08%.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley increased its holdings in shares of Armstrong World Industries by 134.7% during the 3rd quarter. Morgan Stanley now owns 57,812 shares of the construction company’s stock valued at $5,520,000 after purchasing an additional 33,178 shares in the last quarter. UBS Group AG increased its holdings in Armstrong World Industries by 14.0% in the third quarter. UBS Group AG now owns 7,667 shares of the construction company’s stock valued at $732,000 after buying an additional 939 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Armstrong World Industries by 80.3% in the third quarter. BNP Paribas Arbitrage SA now owns 1,421 shares of the construction company’s stock worth $136,000 after acquiring an additional 633 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Armstrong World Industries by 118.1% during the 4th quarter. JPMorgan Chase & Co. now owns 45,606 shares of the construction company’s stock worth $5,296,000 after acquiring an additional 24,695 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Armstrong World Industries by 9.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 89,542 shares of the construction company’s stock valued at $10,398,000 after acquiring an additional 7,419 shares during the period. Hedge funds and other institutional investors own 99.57% of the company’s stock.

Armstrong World Industries Company Profile (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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Earnings History and Estimates for Armstrong World Industries (NYSE:AWI)

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