Armstrong World Industries Inc (AWI) Expected to Post Quarterly Sales of $317.52 Million

Wall Street analysts expect Armstrong World Industries Inc (NYSE:AWI) to report $317.52 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Armstrong World Industries’ earnings. The lowest sales estimate is $317.33 million and the highest is $317.70 million. Armstrong World Industries reported sales of $297.90 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.6%. The firm is expected to issue its next earnings results on Monday, February 26th.

According to Zacks, analysts expect that Armstrong World Industries will report full year sales of $317.52 million for the current year. For the next financial year, analysts anticipate that the company will report sales of $1.37 billion per share, with estimates ranging from $1.37 billion to $1.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Armstrong World Industries.

Armstrong World Industries (NYSE:AWI) last announced 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 company had revenue of $351.90 million for the quarter, compared to analyst estimates of $357.29 million. Armstrong World Industries had a return on equity of 46.62% and a net margin of 11.44%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share.

AWI has been the topic of a number of research reports. SunTrust Banks reiterated a “buy” rating and set a $55.00 price target on shares of Armstrong World Industries in a research report on Wednesday, November 1st. Nomura set a $65.00 price target on Armstrong World Industries and gave the stock a “buy” rating in a research report on Tuesday, November 21st. Zacks Investment Research upgraded Armstrong World Industries from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Monday, November 27th. Jefferies Group initiated coverage on Armstrong World Industries in a research report on Tuesday, December 12th. They set a “hold” rating and a $62.00 price target on the stock. Finally, KeyCorp reiterated a “hold” rating on shares of Armstrong World Industries in a research report on Friday, September 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $56.00.

Shares of Armstrong World Industries (NYSE:AWI) opened at $63.55 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 2.25. The firm has a market capitalization of $3,331.99, a P/E ratio of 23.19, a PEG ratio of 1.73 and a beta of 1.78. Armstrong World Industries has a 1 year low of $38.45 and a 1 year high of $63.95.

Armstrong World Industries declared that its Board of Directors has initiated a share repurchase program on Monday, October 30th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In related news, SVP Ellen R. Romano sold 33,087 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $54.68, for a total value of $1,809,197.16. Following the completion of the transaction, the senior vice president now directly owns 14,769 shares of the company’s stock, valued at approximately $807,568.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Armstrong World Industries by 14.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,310 shares of the construction company’s stock worth $106,000 after buying an additional 286 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Armstrong World Industries by 239.5% during the 2nd 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 in the last quarter. SG Americas Securities LLC bought a new position in Armstrong World Industries during the 2nd quarter valued at $149,000. BNP Paribas Arbitrage SA boosted its stake in Armstrong World Industries by 65.3% during the 2nd 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 in the last quarter. Finally, Victory Capital Management Inc. bought a new position in Armstrong World Industries during the 3rd quarter valued at $193,000.

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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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