Zacks: Brokerages Expect Armstrong World Industries Inc (NYSE:AWI) Will Post Quarterly Sales of $277.81 Million

Wall Street analysts forecast that Armstrong World Industries Inc (NYSE:AWI) will post $277.81 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Armstrong World Industries’ earnings, with estimates ranging from $272.25 million to $282.60 million. Armstrong World Industries reported sales of $248.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.7%. The firm is expected to issue its next earnings report on Tuesday, July 30th.

On average, analysts expect that Armstrong World Industries will report full year sales of $1.07 billion for the current year, with estimates ranging from $1.06 billion to $1.07 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.13 billion, with estimates ranging from $1.12 billion to $1.14 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Armstrong World Industries.

Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Monday, April 29th. The construction company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.15. The company had revenue of $242.10 million for the quarter, compared to analysts’ expectations of $247.38 million. Armstrong World Industries had a net margin of 19.92% and a return on equity of 63.92%. Armstrong World Industries’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 earnings per share.

Several research analysts recently weighed in on AWI shares. KeyCorp decreased their price objective on shares of G-III Apparel Group from $52.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, June 6th. Bank of America upped their target price on Armstrong World Industries from $95.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. SunTrust Banks lowered LegacyTexas Financial Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $43.00 to $39.05 in a research note on Tuesday, June 18th. Zelman & Associates lowered Armstrong World Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Finally, Nomura upped their target price on Synchrony Financial from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $91.23.

Shares of AWI stock traded up $1.05 during trading on Friday, hitting $98.71. The company had a trading volume of 172,931 shares, compared to its average volume of 421,126. The company has a quick ratio of 1.15, a current ratio of 1.27 and a debt-to-equity ratio of 2.67. The business’s 50-day simple moving average is $95.02. The firm has a market cap of $4.83 billion, a PE ratio of 26.97, a price-to-earnings-growth ratio of 1.13 and a beta of 1.67. Armstrong World Industries has a 52 week low of $54.34 and a 52 week high of $100.37.

In other Armstrong World Industries news, VP Stephen F. Mcnamara sold 7,778 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $87.26, for a total value of $678,708.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Valueact Capital Master Fund, sold 63,910 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $86.88, for a total value of $5,552,500.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,188 shares of company stock valued at $6,804,574. 1.70% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in AWI. ETRADE Capital Management LLC purchased a new stake in shares of Armstrong World Industries during the fourth quarter valued at approximately $272,000. Bank of New York Mellon Corp boosted its stake in shares of Armstrong World Industries by 17.9% during the fourth quarter. Bank of New York Mellon Corp now owns 223,725 shares of the construction company’s stock valued at $13,023,000 after purchasing an additional 33,916 shares during the period. Advisor Group Inc. boosted its stake in shares of Armstrong World Industries by 76.2% during the fourth quarter. Advisor Group Inc. now owns 6,425 shares of the construction company’s stock valued at $375,000 after purchasing an additional 2,778 shares during the period. Citigroup Inc. boosted its stake in shares of Armstrong World Industries by 23.5% during the fourth quarter. Citigroup Inc. now owns 51,624 shares of the construction company’s stock valued at $3,005,000 after purchasing an additional 9,839 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Armstrong World Industries during the fourth quarter valued at approximately $368,000.

About Armstrong World Industries

Armstrong World Industries, Inc 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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