Zacks: Brokerages Anticipate Armstrong World Industries, Inc. (NYSE:AWI) Will Announce Earnings of $1.29 Per Share

Analysts expect that Armstrong World Industries, Inc. (NYSE:AWI) will announce earnings of $1.29 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Armstrong World Industries’ earnings. The lowest EPS estimate is $1.26 and the highest is $1.34. Armstrong World Industries reported earnings per share of $1.07 during the same quarter last year, which suggests a positive year over year growth rate of 20.6%. The company is expected to issue its next earnings results on Tuesday, October 26th.

According to Zacks, analysts expect that Armstrong World Industries will report full year earnings of $4.22 per share for the current fiscal year, with EPS estimates ranging from $4.13 to $4.31. For the next fiscal year, analysts forecast that the company will report earnings of $4.93 per share, with EPS estimates ranging from $4.61 to $5.30. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Armstrong World Industries.

Armstrong World Industries (NYSE:AWI) last issued its earnings results on Monday, July 26th. The construction company reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.11. Armstrong World Industries had a return on equity of 39.56% and a net margin of 16.45%. The firm had revenue of $280.00 million for the quarter, compared to analysts’ expectations of $272.23 million. During the same quarter last year, the firm earned $1.03 earnings per share. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year.

Several research firms have commented on AWI. Zelman & Associates raised Armstrong World Industries from a “hold” rating to a “buy” rating in a research report on Thursday, June 24th. Truist lifted their target price on Armstrong World Industries from $115.00 to $124.00 and gave the stock a “buy” rating in a research report on Monday, June 14th. Finally, Truist Securities lifted their target price on Armstrong World Industries from $115.00 to $124.00 and gave the stock a “buy” rating in a research report on Monday, June 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Armstrong World Industries currently has a consensus rating of “Hold” and an average price target of $91.56.

Large investors have recently made changes to their positions in the stock. Yacktman Asset Management LP bought a new position in shares of Armstrong World Industries in the first quarter valued at $100,370,000. Bank of New York Mellon Corp increased its holdings in shares of Armstrong World Industries by 356.7% in the first quarter. Bank of New York Mellon Corp now owns 1,034,064 shares of the construction company’s stock valued at $93,157,000 after buying an additional 807,654 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Armstrong World Industries by 2,272.0% in the second quarter. Alliancebernstein L.P. now owns 626,371 shares of the construction company’s stock valued at $67,185,000 after buying an additional 599,964 shares in the last quarter. Balyasny Asset Management LLC bought a new position in shares of Armstrong World Industries in the second quarter valued at $29,649,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Armstrong World Industries by 15.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,861,228 shares of the construction company’s stock valued at $199,636,000 after buying an additional 247,436 shares in the last quarter.

Armstrong World Industries stock traded up $0.02 during midday trading on Friday, reaching $100.23. The stock had a trading volume of 113 shares, compared to its average volume of 298,787. The stock’s 50-day simple moving average is $105.80 and its 200 day simple moving average is $102.19. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.32 and a current ratio of 1.79. Armstrong World Industries has a twelve month low of $57.96 and a twelve month high of $113.83. The stock has a market capitalization of $4.77 billion, a PE ratio of 28.80 and a beta of 1.17.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 19th. Investors of record on Thursday, August 5th were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, August 4th. This represents a $0.84 annualized dividend and a yield of 0.84%. Armstrong World Industries’s payout ratio is 23.14%.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc engages in the design, manufacture, and trade of commercial and residential ceiling, wall, and suspension system solutions. It operates through the following segments: Mineral Fiber, Architectural Specialties and Unallocated Corporate. Mineral Fiber segment produces suspended mineral fiber and soft fiber ceiling systems for use in commercial and residential settings.

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

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