Zacks: Brokerages Anticipate Armstrong Flooring, Inc. (AFI) Will Post Earnings of $0.20 Per Share
Analysts expect Armstrong Flooring, Inc. (NYSE:AFI) to announce earnings of $0.20 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Armstrong Flooring’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.23. Armstrong Flooring posted earnings of $0.39 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 48.7%. The business is scheduled to report its next earnings results on Thursday, November 9th.
According to Zacks, analysts expect that Armstrong Flooring will report full year earnings of $0.19 per share for the current financial year, with EPS estimates ranging from $0.07 to $0.25. For the next financial year, analysts forecast that the firm will report earnings of $0.48 per share, with EPS estimates ranging from $0.24 to $0.70. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Armstrong Flooring.
Armstrong Flooring (NYSE:AFI) last issued its quarterly earnings results on Monday, August 7th. The construction company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by $0.12. The company had revenue of $297.30 million during the quarter, compared to the consensus estimate of $324.63 million. Armstrong Flooring had a positive return on equity of 1.99% and a negative net margin of 0.03%. The business’s revenue was down 8.2% compared to the same quarter last year.
A number of research analysts have recently commented on AFI shares. Stifel Nicolaus reiterated a “hold” rating and set a $20.00 price target on shares of Armstrong Flooring in a report on Monday, August 7th. TheStreet lowered Armstrong Flooring from a “c-” rating to a “d+” rating in a report on Monday, August 21st. Nomura reiterated a “neutral” rating on shares of Armstrong Flooring in a report on Tuesday, August 8th. Gabelli lowered Armstrong Flooring from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research note on Tuesday, August 8th. Finally, Zacks Investment Research lowered Armstrong Flooring from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.50.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. raised its stake in shares of Armstrong Flooring by 138.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,800 shares of the construction company’s stock valued at $158,000 after purchasing an additional 5,102 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Armstrong Flooring by 13.7% in the second quarter. Voya Investment Management LLC now owns 12,876 shares of the construction company’s stock valued at $231,000 after purchasing an additional 1,551 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Armstrong Flooring in the second quarter valued at $330,000. KBC Group NV raised its stake in shares of Armstrong Flooring by 1.2% in the second quarter. KBC Group NV now owns 18,663 shares of the construction company’s stock valued at $335,000 after purchasing an additional 225 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Armstrong Flooring by 5.7% in the second quarter. The Manufacturers Life Insurance Company now owns 19,565 shares of the construction company’s stock valued at $351,000 after purchasing an additional 1,056 shares in the last quarter.
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Shares of Armstrong Flooring (AFI) traded up 0.64% during mid-day trading on Tuesday, hitting $15.77. 33,887 shares of the company were exchanged. The stock’s 50-day moving average price is $15.52 and its 200 day moving average price is $18.04. Armstrong Flooring has a 12-month low of $13.55 and a 12-month high of $22.96. The stock has a market cap of $427.13 million, a PE ratio of 716.82 and a beta of 4.75.
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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