Armstrong World Industries Inc (AWI) Expected to Announce Quarterly Sales of $279.67 Million

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Wall Street brokerages predict that Armstrong World Industries Inc (NYSE:AWI) will report $279.67 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Armstrong World Industries’ earnings, with the highest sales estimate coming in at $282.60 million and the lowest estimate coming in at $277.00 million. Armstrong World Industries reported sales of $248.60 million during the same quarter last year, which indicates a positive year-over-year growth rate of 12.5%. The company is scheduled to report its next earnings results on Tuesday, July 30th.

On average, 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 expect that the company will report sales of $1.13 billion, with estimates ranging from $1.12 billion to $1.14 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Armstrong World Industries.

Armstrong World Industries (NYSE:AWI) last released its earnings results on Monday, April 29th. The construction company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.15. The company had revenue of $242.10 million for the quarter, compared to the consensus estimate of $247.38 million. Armstrong World Industries had a net margin of 19.92% and a return on equity of 63.92%. Armstrong World Industries’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS.

AWI has been the subject of a number of recent research reports. Zacks Investment Research downgraded Armstrong World Industries from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Bank of America raised Armstrong World Industries from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Friday, January 4th. ValuEngine raised Armstrong World Industries from a “hold” rating to a “buy” rating in a report on Monday, February 25th. KeyCorp lifted their price objective on Armstrong World Industries from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, February 26th. Finally, Nomura set a $73.00 price objective on Armstrong World Industries and gave the stock a “buy” rating in a report on Tuesday, February 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Armstrong World Industries has a consensus rating of “Hold” and a consensus price target of $81.01.

In related news, VP Stephen F. Mcnamara sold 7,778 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $87.26, for a total transaction of $678,708.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Holdings L.P. Valueact sold 456,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $73.25, for a total value of $33,402,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,188,778 shares of company stock worth $161,195,958 in the last three months. 1.94% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System lifted its position in shares of Armstrong World Industries by 5.2% during the 1st quarter. California Public Employees Retirement System now owns 90,871 shares of the construction company’s stock worth $7,217,000 after buying an additional 4,457 shares during the period. Starr International Co. Inc. bought a new position in shares of Armstrong World Industries during the 1st quarter worth approximately $3,021,000. SG Americas Securities LLC bought a new position in shares of Armstrong World Industries during the 1st quarter worth approximately $484,000. Quadrant Capital Group LLC bought a new position in shares of Armstrong World Industries during the 1st quarter worth approximately $52,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Armstrong World Industries by 46.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 162,043 shares of the construction company’s stock worth $12,869,000 after buying an additional 51,157 shares during the period. Institutional investors and hedge funds own 98.38% of the company’s stock.

NYSE:AWI traded up $1.77 during trading hours on Friday, hitting $89.20. 11,419 shares of the company were exchanged, compared to its average volume of 524,829. The company has a market cap of $4.30 billion, a PE ratio of 24.37, a P/E/G ratio of 1.17 and a beta of 1.85. Armstrong World Industries has a 52-week low of $54.34 and a 52-week high of $88.93. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 2.67.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Wednesday, May 8th. Armstrong World Industries’s payout ratio is presently 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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Earnings History and Estimates for Armstrong World Industries (NYSE:AWI)

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