Armstrong World Industries Inc (NYSE:AWI) announced its quarterly earnings data on Monday, October 30th. The construction company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06), Bloomberg Earnings reports. Armstrong World Industries had a return on equity of 46.62% and a net margin of 11.44%. The firm had revenue of $351.90 million for the quarter, compared to analysts’ expectations of $357.29 million. During the same quarter in the prior year, the business posted $0.99 earnings per share. Armstrong World Industries’s revenue was up 5.0% on a year-over-year basis.
Shares of Armstrong World Industries (NYSE:AWI) traded down $0.60 during trading hours on Tuesday, hitting $50.55. 381,700 shares of the company’s stock were exchanged, compared to its average volume of 497,462. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.41 and a current ratio of 1.98. The firm has a market cap of $2,650.00, a price-to-earnings ratio of 19.75, a PEG ratio of 1.52 and a beta of 1.73. Armstrong World Industries has a 1 year low of $38.45 and a 1 year high of $54.45.
Armstrong World Industries declared that its Board of Directors has initiated a share buyback program on Monday, October 30th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
A number of equities research analysts have weighed in on AWI shares. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $55.00 target price on shares of Armstrong World Industries in a research note on Wednesday, November 1st. BidaskClub cut shares of Armstrong World Industries from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. TheStreet upgraded shares of Armstrong World Industries from a “c+” rating to a “b” rating in a research report on Monday, July 31st. ValuEngine cut shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, KeyCorp restated a “hold” rating on shares of Armstrong World Industries in a research report on Friday, September 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $49.00.
Armstrong World Industries Company Profile
Armstrong World Industries, Inc (AWI) is a global producer of ceiling systems. The Company owns and operates the Building Products (Ceilings) segment. The Company designs, manufactures and sells ceiling systems (primarily mineral fiber, fiberglass wool and metal) around the world. Its products are used in commercial and institutional buildings.
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