Armstrong World Industries Inc (AWI) Forecasted to Earn FY2017 Earnings of $2.83 Per Share
Armstrong World Industries Inc (NYSE:AWI) – Analysts at SunTrust Banks raised their FY2017 earnings per share estimates for shares of Armstrong World Industries in a report issued on Monday. SunTrust Banks analyst K. Hughes now expects that the construction company will post earnings of $2.83 per share for the year, up from their prior forecast of $2.72. SunTrust Banks has a “Buy” rating and a $55.00 price objective on the stock. SunTrust Banks also issued estimates for Armstrong World Industries’ Q4 2017 earnings at $0.69 EPS and FY2018 earnings at $3.15 EPS.
Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Armstrong World Industries from a “c+” rating to a “b” rating in a report on Monday, July 31st. Deutsche Bank AG increased their target price on shares of Armstrong World Industries from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. ValuEngine upgraded shares of Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. KeyCorp restated a “hold” rating on shares of Armstrong World Industries in a report on Friday, September 22nd. Finally, Royal Bank Of Canada restated a “hold” rating and set a $50.00 target price on shares of Armstrong World Industries in a report on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.00.
Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Monday, October 30th. The construction company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The business had revenue of $351.90 million for the quarter, compared to the consensus estimate of $357.29 million. Armstrong World Industries had a net margin of 11.44% and a return on equity of 46.62%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 EPS.
Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Armstrong World Industries by 14.1% in the second quarter. JPMorgan Chase & Co. now owns 2,310 shares of the construction company’s stock valued at $106,000 after acquiring an additional 286 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Armstrong World Industries by 239.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,784 shares of the construction company’s stock valued at $128,000 after purchasing an additional 1,964 shares during the period. SG Americas Securities LLC bought a new position in shares of Armstrong World Industries in the second quarter valued at about $149,000. BNP Paribas Arbitrage SA raised its position in shares of Armstrong World Industries by 65.3% in the second quarter. BNP Paribas Arbitrage SA now owns 3,520 shares of the construction company’s stock valued at $162,000 after purchasing an additional 1,391 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of Armstrong World Industries in the third quarter valued at about $193,000.
Armstrong World Industries declared that its Board of Directors has authorized a stock buyback plan on Monday, October 30th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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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