Brokerages expect Armstrong World Industries Inc (NYSE:AWI) to announce $279.67 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Armstrong World Industries’ earnings, with the lowest sales estimate coming in at $277.00 million and the highest estimate coming in at $282.60 million. Armstrong World Industries reported sales of $248.60 million in the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The company is scheduled to announce its next quarterly earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that Armstrong World Industries will report full-year sales of $1.07 billion for the current fiscal year, with estimates ranging from $1.06 billion to $1.07 billion. For the next financial year, analysts anticipate that the company will post sales of $1.13 billion, with estimates ranging from $1.12 billion to $1.14 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Armstrong World Industries.
Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Monday, April 29th. The construction company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.15. The firm had revenue of $242.10 million for the quarter, compared to analysts’ expectations of $247.38 million. Armstrong World Industries had a return on equity of 63.92% and a net margin of 19.92%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS.
A number of brokerages have weighed in on AWI. Nomura set a $73.00 price objective on Armstrong World Industries and gave the company a “buy” rating in a report on Tuesday, February 26th. KeyCorp boosted their price target on Armstrong World Industries from $76.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 26th. Zacks Investment Research lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. SunTrust Banks reissued a “buy” rating and set a $95.00 price target on shares of Armstrong World Industries in a research note on Tuesday, April 30th. Finally, Zelman & Associates raised Armstrong World Industries from a “sell” rating to a “hold” rating and set a $73.05 price target on the stock in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $87.51.
Shares of AWI stock opened at $94.90 on Thursday. The stock has a market capitalization of $4.65 billion, a P/E ratio of 25.93, a P/E/G ratio of 1.28 and a beta of 1.69. Armstrong World Industries has a 52-week low of $54.34 and a 52-week high of $97.43. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.15 and a current ratio of 1.27.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $0.70 annualized dividend and a yield of 0.74%. Armstrong World Industries’s dividend payout ratio (DPR) is presently 19.13%.
In other news, insider Valueact Capital Master Fund, sold 63,910 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $86.88, for a total transaction of $5,552,500.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ellen R. Romano sold 6,500 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $88.21, for a total value of $573,365.00. The disclosure for this sale can be found here. Insiders sold a total of 78,188 shares of company stock valued at $6,804,574 over the last quarter. 1.70% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in AWI. Macquarie Group Ltd. purchased a new position in Armstrong World Industries in the 4th quarter valued at about $29,000. Oppenheimer Asset Management Inc. purchased a new position in Armstrong World Industries in the 4th quarter valued at about $38,000. Quadrant Capital Group LLC purchased a new position in Armstrong World Industries in the 1st quarter valued at about $52,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Armstrong World Industries by 14.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 915 shares of the construction company’s stock valued at $75,000 after buying an additional 119 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in Armstrong World Industries in the 1st quarter valued at about $167,000.
About Armstrong World Industries
Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. The company operates through Mineral Fiber and Architectural Specialties segments.
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