Armstrong Flooring Inc (AFI) Expected to Announce Earnings of -$0.20 Per Share

Analysts expect that Armstrong Flooring Inc (NYSE:AFI) will report earnings per share (EPS) of ($0.20) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Armstrong Flooring’s earnings, with estimates ranging from ($0.24) to ($0.16). Armstrong Flooring reported earnings per share of ($0.09) in the same quarter last year, which would suggest a negative year over year growth rate of 122.2%. The business is scheduled to announce its next quarterly earnings results before the market opens on Monday, March 5th.

On average, analysts expect that Armstrong Flooring will report full year earnings of $0.15 per share for the current financial year, with EPS estimates ranging from $0.09 to $0.20. For the next fiscal year, analysts anticipate that the business will report earnings of $0.45 per share, with EPS estimates ranging from $0.21 to $0.59. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Armstrong Flooring.

Armstrong Flooring (NYSE:AFI) last released its quarterly earnings results on Monday, November 6th. The construction company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.07). The business had revenue of $308.50 million for the quarter, compared to analyst estimates of $294.68 million. Armstrong Flooring had a positive return on equity of 1.06% and a negative net margin of 2.40%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 EPS.

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 target price on the stock in a research report on Tuesday, January 9th. TheStreet raised Armstrong Flooring from a “d+” rating to a “c-” rating in a research report on Tuesday, November 28th. Finally, SunTrust Banks reissued a “hold” rating and issued a $15.00 target price on shares of Armstrong Flooring in a research report on Friday, November 3rd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.33.

Shares of Armstrong Flooring (AFI) opened at $14.80 on Thursday. The company has a market capitalization of $362.47, a PE ratio of -14.65 and a beta of 2.80. The company has a current ratio of 2.66, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. Armstrong Flooring has a 1 year low of $13.32 and a 1 year high of $22.96.

Institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC raised its position in Armstrong Flooring by 13.7% in the 2nd quarter. Voya Investment Management LLC now owns 12,876 shares of the construction company’s stock valued at $231,000 after buying an additional 1,551 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Armstrong Flooring in the 2nd quarter valued at approximately $330,000. The Manufacturers Life Insurance Company increased its position in shares of Armstrong Flooring by 5.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,565 shares of the construction company’s stock worth $351,000 after purchasing an additional 1,056 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Armstrong Flooring by 34.9% during the 2nd quarter. Alliancebernstein L.P. now owns 19,710 shares of the construction company’s stock worth $354,000 after purchasing an additional 5,100 shares during the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of Armstrong Flooring during the 4th quarter worth approximately $336,000. 98.70% of the stock is currently owned by institutional investors and hedge funds.

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Armstrong Flooring Company Profile

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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Earnings History and Estimates for Armstrong Flooring (NYSE:AFI)

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