$261.25 Million in Sales Expected for Armstrong Flooring Inc (AFI) This Quarter

Equities analysts predict that Armstrong Flooring Inc (NYSE:AFI) will report sales of $261.25 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Armstrong Flooring’s earnings. The lowest sales estimate is $260.60 million and the highest is $261.90 million. Armstrong Flooring posted sales of $271.70 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.8%. The business is expected to announce its next earnings report before the market opens on Tuesday, March 6th.

On average, analysts expect that Armstrong Flooring will report full year sales of $261.25 million for the current fiscal year. For the next fiscal year, analysts expect that the business will post sales of $1.13 billion per share, with estimates ranging from $1.12 billion to $1.15 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Armstrong Flooring.

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

Several research analysts recently weighed in on the stock. TheStreet raised shares of Armstrong Flooring from a “d+” rating to a “c-” rating in a research note on Tuesday, November 28th. SunTrust Banks reissued a “hold” rating and issued a $15.00 target price on shares of Armstrong Flooring in a research note on Friday, November 3rd. Finally, Zacks Investment Research raised shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Armstrong Flooring has an average rating of “Hold” and an average target price of $23.33.

Shares of Armstrong Flooring (AFI) traded up $0.12 during mid-day trading on Friday, reaching $14.57. 96,652 shares of the company traded hands, compared to its average volume of 85,986. Armstrong Flooring has a 12-month low of $13.32 and a 12-month high of $22.96. The firm has a market cap of $371.73, a P/E ratio of -14.43 and a beta of 2.80. The company has a quick ratio of 0.98, a current ratio of 2.66 and a debt-to-equity ratio of 0.17.

A number of institutional investors and hedge funds have recently bought and sold shares of AFI. Schwab Charles Investment Management Inc. grew its holdings 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 valued at $2,352,000 after buying an additional 37,543 shares during the period. JPMorgan Chase & Co. grew its holdings in Armstrong Flooring by 69.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,403 shares of the construction company’s stock valued at $385,000 after buying an additional 8,789 shares during the period. Alliancebernstein L.P. grew its holdings in Armstrong Flooring by 34.9% in the 2nd quarter. Alliancebernstein L.P. now owns 19,710 shares of the construction company’s stock valued at $354,000 after buying an additional 5,100 shares during the period. Teachers Advisors LLC grew its holdings in Armstrong Flooring by 7.0% in the 2nd quarter. Teachers Advisors LLC now owns 42,786 shares of the construction company’s stock valued at $769,000 after buying an additional 2,810 shares during the period. Finally, Ameriprise Financial Inc. purchased a new stake in Armstrong Flooring in the 2nd quarter valued at about $777,000. Institutional investors own 98.70% of the company’s stock.

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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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