Armstrong World Industries, Inc. (NYSE:AWI) Expected to Post Quarterly Sales of $312.70 Million

Wall Street brokerages expect that Armstrong World Industries, Inc. (NYSE:AWI – Get Rating) will announce sales of $312.70 million for the current quarter, according to Zacks. Three analysts have provided estimates for Armstrong World Industries’ earnings. The highest sales estimate is $313.50 million and the lowest is $311.80 million. Armstrong World Industries reported sales of $280.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.7%. The company is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Armstrong World Industries will report full-year sales of $1.24 billion for the current fiscal year, with estimates ranging from $1.23 billion to $1.24 billion. For the next year, analysts expect that the company will report sales of $1.32 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Armstrong World Industries.

Armstrong World Industries (NYSE:AWI – Get Rating) last issued its quarterly earnings data 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). The business had revenue of $282.60 million during the quarter, compared to the consensus estimate of $289.61 million. Armstrong World Industries had a net margin of 16.90% and a return on equity of 40.89%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS.

A number of research analysts recently issued reports on AWI shares. Loop Capital dropped their price objective on shares of Armstrong World Industries from $110.00 to $102.00 in a report on Wednesday, February 23rd. Truist Financial lowered their price target on shares of Armstrong World Industries from $124.00 to $110.00 in a report on Wednesday, April 27th. StockNews.com lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Friday, April 8th. UBS Group initiated coverage on shares of Armstrong World Industries in a report on Wednesday, January 19th. They set a “sell” rating and a $103.00 price target for the company. Finally, Jefferies Financial Group upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating and raised their price target for the stock from $101.00 to $111.00 in a report on Monday, March 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $116.11.

NYSE AWI traded up $0.94 during trading hours on Wednesday, reaching $83.18. The company’s stock had a trading volume of 232,057 shares, compared to its average volume of 454,345. The firm has a fifty day simple moving average of $89.81 and a 200-day simple moving average of $100.13. The stock has a market cap of $3.91 billion, a P/E ratio of 20.69, a P/E/G ratio of 1.20 and a beta of 1.18. Armstrong World Industries has a 52 week low of $79.64 and a 52 week high of $118.14. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.65 and a quick ratio of 1.11.

The firm also recently declared 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 yield of 1.11%. The ex-dividend date is Wednesday, May 4th. Armstrong World Industries’s payout ratio is currently 22.89%.

In related news, SVP Mark A. Hershey sold 1,365 shares of Armstrong World Industries stock in a transaction 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 sale, the senior vice president now owns 45,053 shares of the company’s stock, valued at approximately $4,284,990.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. boosted its holdings in Armstrong World Industries by 342.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the construction company’s stock worth $43,000 after acquiring an additional 137 shares during the last quarter. CWM LLC bought a new stake in shares of Armstrong World Industries during the 4th quarter worth $28,000. NEXT Financial Group Inc raised its stake in shares of Armstrong World Industries by 75.4% during the 4th quarter. NEXT Financial Group Inc now owns 314 shares of the construction company’s stock worth $36,000 after purchasing an additional 135 shares during the period. Clearstead Advisors LLC raised its stake in shares of Armstrong World Industries by 2,013.3% during the 3rd quarter. Clearstead Advisors LLC now owns 317 shares of the construction company’s stock worth $30,000 after purchasing an additional 302 shares during the period. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Armstrong World Industries during the 3rd quarter worth $36,000. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

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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