Zacks: Analysts Expect Armstrong Flooring Inc (AFI) Will Announce Quarterly Sales of $261.25 Million

Analysts expect Armstrong Flooring Inc (NYSE:AFI) to post sales of $261.25 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Armstrong Flooring’s earnings, with the lowest sales estimate coming in at $260.60 million and the highest estimate coming in at $261.90 million. Armstrong Flooring reported sales of $271.70 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.8%. The business is scheduled to announce its next earnings report on Monday, March 5th.

According to Zacks, analysts expect that Armstrong Flooring will report full year sales of $261.25 million for the current year. For the next financial year, analysts anticipate that the company will post sales of $1.13 billion per share, with estimates ranging from $1.12 billion to $1.15 billion. Zacks’ sales averages are an average based on a survey of research analysts that cover Armstrong Flooring.

Armstrong Flooring (NYSE:AFI) last posted its quarterly earnings data on Monday, November 6th. The construction company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.07). Armstrong Flooring had a positive return on equity of 1.06% and a negative net margin of 2.40%. The business had revenue of $308.50 million during the quarter, compared to analysts’ expectations of $294.68 million. During the same period in the prior year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis.

AFI has been the topic of a number of recent research reports. Zacks Investment Research raised Armstrong Flooring from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, January 9th. TheStreet upgraded Armstrong Flooring from a “d+” rating to a “c-” rating in a research note on Tuesday, November 28th. Finally, SunTrust Banks reiterated a “hold” rating and set a $15.00 price objective on shares of Armstrong Flooring in a research note on Friday, November 3rd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $23.33.

Armstrong Flooring (NYSE:AFI) opened at $16.63 on Tuesday. Armstrong Flooring has a 1 year low of $13.32 and a 1 year high of $22.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.66 and a quick ratio of 0.98. The firm has a market capitalization of $428.33, a price-to-earnings ratio of -16.47 and a beta of 4.92.

Several large investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its stake in Armstrong Flooring by 40.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 130,850 shares of the construction company’s stock worth $2,352,000 after acquiring an additional 37,543 shares during the last quarter. Rhumbline Advisers increased its stake in Armstrong Flooring by 1.7% in the 2nd quarter. Rhumbline Advisers now owns 28,206 shares of the construction company’s stock worth $507,000 after acquiring an additional 470 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Armstrong Flooring by 69.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,403 shares of the construction company’s stock worth $385,000 after acquiring an additional 8,789 shares during the last quarter. Wells Fargo & Company MN increased its stake in Armstrong Flooring by 3,131.5% in the 2nd quarter. Wells Fargo & Company MN now owns 512,971 shares of the construction company’s stock worth $9,219,000 after acquiring an additional 497,097 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Armstrong Flooring by 34.9% in the 2nd quarter. Alliancebernstein L.P. now owns 19,710 shares of the construction company’s stock worth $354,000 after acquiring an additional 5,100 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

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About Armstrong Flooring

Armstrong Flooring, Inc produces flooring products for use primarily in the construction and renovation of residential, commercial and institutional buildings. The Company designs, manufactures, sources and sells resilient and wood flooring products in North America and the Pacific Rim. It operates through two segments: Resilient Flooring and Wood Flooring.

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