Wall Street brokerages forecast that Armstrong World Industries Inc (NYSE:AWI) will report earnings of $1.18 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Armstrong World Industries’ earnings. The lowest EPS estimate is $1.16 and the highest is $1.21. Armstrong World Industries posted earnings per share of $1.01 in the same quarter last year, which suggests a positive year-over-year growth rate of 16.8%. The company is expected to report its next quarterly earnings report before the market opens on Monday, July 29th.
On average, analysts expect that Armstrong World Industries will report full-year earnings of $4.56 per share for the current year, with EPS estimates ranging from $4.48 to $4.65. For the next year, analysts anticipate that the business will post earnings of $5.06 per share, with EPS estimates ranging from $5.03 to $5.10. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Armstrong World Industries.
Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Monday, April 29th. The construction company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.15. The business had revenue of $242.10 million during the quarter, compared to the consensus estimate of $247.38 million. Armstrong World Industries had a return on equity of 63.92% and a net margin of 19.92%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS.
Several research analysts have weighed in on AWI shares. Nomura increased their price objective on Synchrony Financial from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Zacks Investment Research cut HANNOVER RUECK/S from a “hold” rating to a “sell” rating in a research report on Monday, April 22nd. KeyCorp lowered their price objective on G-III Apparel Group from $52.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, June 6th. SunTrust Banks cut LegacyTexas Financial Group from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $43.00 to $39.05 in a research report on Tuesday, June 18th. Finally, Bank of America increased their price objective on Armstrong World Industries from $95.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $91.23.
In related news, SVP Ellen R. Romano sold 6,500 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Valueact Capital Master Fund, sold 63,910 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $86.88, for a total value of $5,552,500.80. The disclosure for this sale can be found here. Insiders sold 78,188 shares of company stock worth $6,804,574 in the last 90 days. 1.70% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AWI. Lazard Asset Management LLC increased its position in shares of Armstrong World Industries by 22.1% in the first quarter. Lazard Asset Management LLC now owns 5,801,842 shares of the construction company’s stock worth $460,782,000 after purchasing an additional 1,048,317 shares during the period. Norges Bank bought a new position in Armstrong World Industries in the fourth quarter valued at about $36,692,000. FMR LLC grew its position in Armstrong World Industries by 77.9% in the first quarter. FMR LLC now owns 1,426,367 shares of the construction company’s stock valued at $113,282,000 after acquiring an additional 624,611 shares during the last quarter. Millennium Management LLC grew its position in Armstrong World Industries by 212.0% in the fourth quarter. Millennium Management LLC now owns 702,346 shares of the construction company’s stock valued at $40,884,000 after acquiring an additional 477,235 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in Armstrong World Industries in the first quarter valued at about $18,226,000. Institutional investors own 99.97% of the company’s stock.
AWI stock traded up $0.05 during trading hours on Friday, hitting $99.33. 457,500 shares of the stock were exchanged, compared to its average volume of 466,408. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.27 and a quick ratio of 1.15. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 27.14, a P/E/G ratio of 1.15 and a beta of 1.67. The firm has a 50-day moving average price of $97.48. Armstrong World Industries has a 12 month low of $54.34 and a 12 month high of $103.10.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Wednesday, August 7th. Armstrong World Industries’s payout ratio is currently 19.13%.
Armstrong World Industries Company Profile
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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