Zacks: Brokerages Anticipate Armstrong World Industries Inc (AWI) Will Announce Quarterly Sales of $356.15 Million
Equities research analysts expect Armstrong World Industries Inc (NYSE:AWI) to report $356.15 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Armstrong World Industries’ earnings, with the lowest sales estimate coming in at $355.20 million and the highest estimate coming in at $357.27 million. Armstrong World Industries posted sales of $334.90 million in the same quarter last year, which suggests a positive year over year growth rate of 6.3%. The business is scheduled to report its next quarterly earnings report on Monday, October 30th.
On average, analysts expect that Armstrong World Industries will report full year sales of $356.15 million for the current year. For the next year, analysts anticipate that the business will report sales of $1.38 billion per share, with estimates ranging from $1.37 billion to $1.39 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Armstrong World Industries.
Armstrong World Industries (NYSE:AWI) last posted its quarterly earnings results on Monday, July 31st. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.04. Armstrong World Industries had a return on equity of 49.73% and a net margin of 13.24%. The firm had revenue of $330.80 million during the quarter, compared to the consensus estimate of $330.92 million. During the same quarter in the previous year, the business earned $0.56 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year.
Several analysts recently issued reports on AWI shares. TheStreet upgraded Armstrong World Industries from a “c+” rating to a “b” rating in a report on Monday, July 31st. Zacks Investment Research upgraded Armstrong World Industries from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Thursday, June 22nd. ValuEngine upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Deutsche Bank AG increased their price objective on Armstrong World Industries from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Armstrong World Industries currently has an average rating of “Hold” and an average target price of $45.43.
Shares of Armstrong World Industries (NYSE AWI) opened at 48.35 on Friday. Armstrong World Industries has a 52-week low of $36.38 and a 52-week high of $50.15. The firm’s 50-day moving average price is $47.15 and its 200-day moving average price is $45.67. The stock has a market cap of $2.56 billion, a P/E ratio of 15.70 and a beta of 1.63.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its holdings in Armstrong World Industries by 71.8% during the second quarter. Public Employees Retirement System of Ohio now owns 25,177 shares of the construction company’s stock valued at $1,158,000 after buying an additional 10,522 shares in the last quarter. Timucuan Asset Management Inc. FL bought a new position in Armstrong World Industries during the second quarter valued at about $19,748,000. MIG Capital LLC raised its holdings in Armstrong World Industries by 10.1% during the second quarter. MIG Capital LLC now owns 630,101 shares of the construction company’s stock valued at $28,985,000 after buying an additional 58,043 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in Armstrong World Industries during the second quarter valued at about $690,000. Finally, State Street Corp raised its holdings in Armstrong World Industries by 3.3% during the second quarter. State Street Corp now owns 1,014,984 shares of the construction company’s stock valued at $46,689,000 after buying an additional 32,325 shares in the last quarter.
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About Armstrong World Industries
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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