$255.73 Million in Sales Expected for Armstrong World Industries Inc (NYSE:AWI) This Quarter

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Wall Street brokerages predict that Armstrong World Industries Inc (NYSE:AWI) will post $255.73 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Armstrong World Industries’ earnings. The lowest sales estimate is $253.80 million and the highest is $259.00 million. Armstrong World Industries posted sales of $238.90 million in the same quarter last year, which would indicate a positive year over year growth rate of 7%. The company is scheduled to issue its next quarterly earnings report on Monday, February 24th.

According to Zacks, analysts expect that Armstrong World Industries will report full-year sales of $1.05 billion for the current financial year. For the next fiscal year, analysts anticipate that the firm will post sales of $1.11 billion, with estimates ranging from $1.10 billion to $1.13 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Armstrong World Industries.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Monday, October 28th. The construction company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.30 by $0.08. Armstrong World Industries had a net margin of 19.55% and a return on equity of 78.13%. The firm had revenue of $277.10 million for the quarter, compared to the consensus estimate of $289.93 million. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The company’s quarterly revenue was up 6.4% compared to the same quarter last year.

Several equities analysts have recently commented on the stock. Bank of America boosted their target price on shares of Armstrong World Industries from $108.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Exane BNP Paribas initiated coverage on shares of Armstrong World Industries in a report on Wednesday, October 9th. They issued an “underperform” rating on the stock. Zacks Investment Research upgraded shares of Armstrong World Industries from a “sell” rating to a “hold” rating and set a $99.00 price target on the stock in a research report on Tuesday, October 29th. ValuEngine upgraded shares of Armstrong World Industries from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, BNP Paribas initiated coverage on shares of Armstrong World Industries in a research report on Wednesday, October 9th. They issued an “underperform” rating on the stock. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $100.01.

A number of institutional investors and hedge funds have recently made changes to their positions in AWI. Price T Rowe Associates Inc. MD increased its position in Armstrong World Industries by 56.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 6,472,013 shares of the construction company’s stock worth $629,080,000 after purchasing an additional 2,338,327 shares during the last quarter. JPMorgan Chase & Co. increased its position in Armstrong World Industries by 359.1% in the second quarter. JPMorgan Chase & Co. now owns 498,919 shares of the construction company’s stock worth $48,804,000 after purchasing an additional 390,234 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Armstrong World Industries in the second quarter worth $28,325,000. Renaissance Technologies LLC increased its position in Armstrong World Industries by 72.9% in the second quarter. Renaissance Technologies LLC now owns 678,300 shares of the construction company’s stock worth $65,931,000 after purchasing an additional 285,900 shares during the last quarter. Finally, Rice Hall James & Associates LLC bought a new stake in Armstrong World Industries in the second quarter worth $26,656,000.

Shares of AWI stock traded down $0.33 during mid-day trading on Wednesday, hitting $97.02. The company had a trading volume of 253,980 shares, compared to its average volume of 440,470. Armstrong World Industries has a 52-week low of $54.34 and a 52-week high of $104.50. The stock’s 50 day moving average price is $96.59 and its 200-day moving average price is $95.32. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.09 and a quick ratio of 1.60. The company has a market capitalization of $4.54 billion, a P/E ratio of 26.51, a P/E/G ratio of 1.31 and a beta of 1.60.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.82%. The ex-dividend date was Wednesday, November 6th. This is a boost from Armstrong World Industries’s previous quarterly dividend of $0.18. Armstrong World Industries’s payout ratio is currently 21.86%.

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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