Armstrong Flooring Inc (NYSE:AFI) – Analysts at SunTrust Banks boosted their Q2 2019 earnings per share (EPS) estimates for shares of Armstrong Flooring in a research report issued on Wednesday, November 7th. SunTrust Banks analyst K. Hughes now forecasts that the construction company will post earnings of $0.51 per share for the quarter, up from their previous estimate of $0.41. SunTrust Banks also issued estimates for Armstrong Flooring’s Q3 2019 earnings at $0.49 EPS and FY2019 earnings at $0.99 EPS.
Several other research firms have also weighed in on AFI. Zacks Investment Research lowered shares of Armstrong Flooring from a “buy” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus reiterated a “hold” rating and set a $17.00 price objective on shares of Armstrong Flooring in a research note on Thursday, August 9th. ValuEngine upgraded shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Finally, Macquarie set a $18.00 price objective on shares of Armstrong Flooring and gave the stock a “hold” rating in a research note on Friday, September 14th. Three equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Armstrong Flooring currently has a consensus rating of “Buy” and an average target price of $17.67.
Armstrong Flooring (NYSE:AFI) last released its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.13. The firm had revenue of $309.70 million for the quarter, compared to analyst estimates of $313.82 million. Armstrong Flooring had a negative net margin of 1.12% and a positive return on equity of 2.72%. Armstrong Flooring’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share.
Several large investors have recently made changes to their positions in AFI. BlackRock Inc. increased its stake in shares of Armstrong Flooring by 1.5% in the first quarter. BlackRock Inc. now owns 1,568,415 shares of the construction company’s stock valued at $21,284,000 after purchasing an additional 23,216 shares during the period. Millennium Management LLC increased its stake in shares of Armstrong Flooring by 43.6% in the first quarter. Millennium Management LLC now owns 257,279 shares of the construction company’s stock valued at $3,491,000 after purchasing an additional 78,091 shares during the period. Nisa Investment Advisors LLC acquired a new stake in shares of Armstrong Flooring in the second quarter valued at approximately $114,000. Hartford Investment Management Co. acquired a new stake in shares of Armstrong Flooring in the second quarter valued at approximately $153,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of Armstrong Flooring in the second quarter valued at approximately $328,000. Institutional investors own 96.11% of the company’s stock.
Armstrong Flooring Company Profile
Armstrong Flooring, Inc, together with its subsidiaries, designs, manufactures, sources, and sells flooring products in North America and the Pacific Rim. It operates through two segments, Resilient Flooring and Wood Flooring. The Resilient Flooring segment offers a range of floor coverings primarily for homes and commercial buildings under the Armstrong brand; and luxury vinyl tile products, vinyl tile flooring, vinyl sheet products, and laminate products, as well as installs and maintains materials and accessories.
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