$329.14 Million in Sales Expected for Armstrong World Industries Inc (AWI) This Quarter
Brokerages forecast that Armstrong World Industries Inc (NYSE:AWI) will announce $329.14 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Armstrong World Industries’ earnings. The highest sales estimate is $331.33 million and the lowest is $327.21 million. Armstrong World Industries reported sales of $314.30 million during the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The firm is expected to announce its next earnings report before the market opens on Monday, July 31st.
According to Zacks, analysts expect that Armstrong World Industries will report full year sales of $329.14 million for the current financial year. For the next financial year, analysts forecast that the business will post sales of $1.37 billion per share, with estimates ranging from $1.36 billion to $1.38 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Armstrong World Industries.
Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings data on Monday, May 1st. The construction company reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The firm had revenue of $315.40 million during the quarter, compared to analysts’ expectations of $298.69 million. Armstrong World Industries had a net margin of 11.48% and a return on equity of 51.25%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS.
A number of research firms recently commented on AWI. Zacks Investment Research raised Armstrong World Industries from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Thursday, June 8th. Nomura started coverage on Armstrong World Industries in a research note on Wednesday, April 12th. They issued a “buy” rating and a $55.00 price target on the stock. Instinet raised their price target on Armstrong World Industries from $20.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, April 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $50.00 price target on shares of Armstrong World Industries in a research note on Thursday, June 15th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $45.00.
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Armstrong World Industries (NYSE AWI) traded up 0.11% during midday trading on Friday, reaching $45.40. 336,858 shares of the company’s stock traded hands. The firm has a market cap of $2.41 billion, a PE ratio of 17.41 and a beta of 1.63. The firm’s 50-day moving average is $44.83 and its 200 day moving average is $43.76. Armstrong World Industries has a 52-week low of $36.38 and a 52-week high of $48.00.
A number of hedge funds have recently modified their holdings of the company. Iridian Asset Management LLC CT raised its stake in shares of Armstrong World Industries by 20.4% in the first quarter. Iridian Asset Management LLC CT now owns 4,413,715 shares of the construction company’s stock worth $203,252,000 after buying an additional 746,618 shares during the last quarter. Vanguard Group Inc. raised its position in Armstrong World Industries by 5.1% in the first quarter. Vanguard Group Inc. now owns 3,440,487 shares of the construction company’s stock valued at $158,435,000 after buying an additional 165,841 shares in the last quarter. BlackRock Inc. raised its position in Armstrong World Industries by 10,381.5% in the first quarter. BlackRock Inc. now owns 1,922,722 shares of the construction company’s stock valued at $88,541,000 after buying an additional 1,904,378 shares in the last quarter. Fiduciary Management Inc. WI raised its position in Armstrong World Industries by 6.5% in the first quarter. Fiduciary Management Inc. WI now owns 1,875,741 shares of the construction company’s stock valued at $86,378,000 after buying an additional 114,960 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Armstrong World Industries by 5.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,522,337 shares of the construction company’s stock valued at $70,104,000 after buying an additional 77,824 shares in the last quarter.
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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