Armstrong World Industries Inc (NYSE:AWI) Expected to Announce Quarterly Sales of $219.67 Million

Wall Street analysts expect that Armstrong World Industries Inc (NYSE:AWI) will post sales of $219.67 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Armstrong World Industries’ earnings, with the highest sales estimate coming in at $237.10 million and the lowest estimate coming in at $206.90 million. Armstrong World Industries posted sales of $272.00 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 19.2%. The firm is expected to report its next earnings report on Monday, August 3rd.

On average, analysts expect that Armstrong World Industries will report full year sales of $961.20 million for the current year, with estimates ranging from $917.50 million to $1.03 billion. For the next fiscal year, analysts forecast that the company will report sales of $979.83 million, with estimates ranging from $931.00 million to $1.03 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Armstrong World Industries.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Monday, April 27th. The construction company reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.01). Armstrong World Industries had a positive return on equity of 71.34% and a negative net margin of 4.86%. The business had revenue of $248.70 million for the quarter, compared to analyst estimates of $250.69 million. During the same quarter in the previous year, the company posted $1.10 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year.

AWI has been the subject of a number of recent analyst reports. Exane BNP Paribas upgraded shares of Armstrong World Industries from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 30th. Credit Suisse Group assumed coverage on shares of Armstrong World Industries in a research note on Wednesday, May 27th. They set an “outperform” rating and a $88.00 target price for the company. Nomura Securities raised their target price on shares of Armstrong World Industries from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. TheStreet cut shares of Armstrong World Industries from a “b” rating to a “c” rating in a research note on Tuesday, April 28th. Finally, Loop Capital upgraded shares of Armstrong World Industries from a “sell” rating to a “hold” rating and cut their target price for the stock from $95.00 to $83.00 in a research note on Tuesday, March 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Armstrong World Industries has a consensus rating of “Buy” and a consensus price target of $97.95.

AWI stock traded up $0.16 during trading hours on Friday, reaching $74.33. The stock had a trading volume of 251,200 shares, compared to its average volume of 400,406. The stock has a market capitalization of $3.56 billion, a PE ratio of -62.99, a price-to-earnings-growth ratio of 4.96 and a beta of 1.20. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.03 and a quick ratio of 1.63. The stock has a 50-day simple moving average of $76.23 and a 200 day simple moving average of $86.20. Armstrong World Industries has a fifty-two week low of $62.03 and a fifty-two week high of $111.46.

A number of large investors have recently made changes to their positions in the business. Mountain Pacific Investment Advisers Inc. ID increased its stake in shares of Armstrong World Industries by 21.2% in the 2nd quarter. Mountain Pacific Investment Advisers Inc. ID now owns 128,226 shares of the construction company’s stock worth $9,996,000 after acquiring an additional 22,400 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of Armstrong World Industries by 0.3% during the 2nd quarter. Diversified Trust Co now owns 42,499 shares of the construction company’s stock valued at $3,313,000 after acquiring an additional 135 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Armstrong World Industries during the 2nd quarter valued at about $483,000. State Street Corp boosted its holdings in shares of Armstrong World Industries by 0.4% in the first quarter. State Street Corp now owns 811,305 shares of the construction company’s stock worth $64,434,000 after buying an additional 3,571 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Armstrong World Industries by 29.9% in the first quarter. Royal Bank of Canada now owns 30,274 shares of the construction company’s stock worth $2,405,000 after buying an additional 6,966 shares during the last quarter. Hedge funds and other institutional investors own 99.64% of the company’s stock.

Armstrong World Industries Company Profile

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.

Further Reading: Price to Earnings Ratio (PE)

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

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