Wall Street brokerages expect that Armstrong Flooring Inc (NYSE:AFI) will report sales of $310.40 million for the current quarter, Zacks reports. Two analysts have made estimates for Armstrong Flooring’s earnings, with the highest sales estimate coming in at $314.00 million and the lowest estimate coming in at $306.80 million. Armstrong Flooring reported sales of $308.50 million in the same quarter last year, which would suggest a positive year over year growth rate of 0.6%. The company is expected to report its next earnings results on Monday, November 5th.
On average, analysts expect that Armstrong Flooring will report full year sales of $1.14 billion for the current year, with estimates ranging from $1.13 billion to $1.15 billion. For the next financial year, analysts forecast that the company will report sales of $1.16 billion per share, with estimates ranging from $1.16 billion to $1.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Armstrong Flooring.
Armstrong Flooring (NYSE:AFI) last posted its quarterly earnings results on Tuesday, August 7th. The construction company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.17. Armstrong Flooring had a negative net margin of 3.46% and a positive return on equity of 1.48%. The firm had revenue of $306.00 million during the quarter, compared to the consensus estimate of $293.00 million.
Several equities research analysts have recently commented on AFI shares. Zacks Investment Research raised shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Stifel Nicolaus decreased their target price on shares of Armstrong Flooring from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Wednesday, May 9th. Finally, ValuEngine raised shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Three equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $17.00.
Shares of NYSE:AFI traded up $0.41 during midday trading on Friday, hitting $18.06. 152,900 shares of the company’s stock were exchanged, compared to its average volume of 113,774. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.43 and a quick ratio of 0.93. The company has a market cap of $449.98 million, a PE ratio of 86.00, a PEG ratio of 1.88 and a beta of 2.03. Armstrong Flooring has a 12 month low of $12.03 and a 12 month high of $18.24.
Several large investors have recently bought and sold shares of AFI. Nisa Investment Advisors LLC bought a new stake in shares of Armstrong Flooring during the second quarter worth about $114,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Armstrong Flooring during the second quarter worth about $141,000. Hartford Investment Management Co. bought a new stake in shares of Armstrong Flooring during the second quarter worth about $153,000. Cubist Systematic Strategies LLC bought a new stake in shares of Armstrong Flooring during the second quarter worth about $153,000. Finally, Aperio Group LLC bought a new stake in shares of Armstrong Flooring during the second quarter worth about $156,000. 97.36% of the stock is owned by institutional investors.
About Armstrong Flooring
Armstrong Flooring, Inc, together with its subsidiaries, designs, manufactures, sources, and sells flooring products in North America and the Pacific Rim. It operates through two segments, Resilient Flooring and Wood Flooring. The Resilient Flooring segment offers a range of floor coverings primarily for homes and commercial buildings under the Armstrong brand; and luxury vinyl tile products, vinyl tile flooring, vinyl sheet products, and laminate products, as well as installs and maintains materials and accessories.
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