$356.15 Million in Sales Expected for Armstrong World Industries Inc (AWI) This Quarter
Analysts expect Armstrong World Industries Inc (NYSE:AWI) to post $356.15 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Armstrong World Industries’ earnings. The highest sales estimate is $357.27 million and the lowest is $355.20 million. Armstrong World Industries posted sales of $334.90 million during the same quarter last year, which suggests a positive year over year growth rate of 6.3%. The company is scheduled to report its next earnings results on Monday, October 30th.
On average, analysts expect that Armstrong World Industries will report full year sales of $356.15 million for the current financial year. For the next fiscal year, analysts anticipate that the business will post sales of $1.38 billion per share, with estimates ranging from $1.37 billion to $1.39 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Armstrong World Industries.
Armstrong World Industries (NYSE:AWI) last issued its earnings results on Monday, July 31st. The construction company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.04. Armstrong World Industries had a net margin of 13.24% and a return on equity of 49.73%. The firm had revenue of $330.80 million during the quarter, compared to the consensus estimate of $330.92 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis.
Several research firms recently commented on AWI. Royal Bank Of Canada reiterated a “hold” rating and issued a $50.00 price objective on shares of Armstrong World Industries in a report on Tuesday. BidaskClub downgraded Armstrong World Industries from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Deutsche Bank AG lifted their price objective on Armstrong World Industries from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. TheStreet upgraded Armstrong World Industries from a “c+” rating to a “b” rating in a report on Monday, July 31st. Finally, ValuEngine cut Armstrong World Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $45.43.
Armstrong World Industries (NYSE:AWI) traded up 0.64% on Wednesday, hitting $47.20. 294,558 shares of the stock traded hands. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 15.33 and a beta of 1.65. The stock has a 50-day moving average price of $45.95 and a 200 day moving average price of $44.90. Armstrong World Industries has a 1-year low of $36.38 and a 1-year high of $49.55.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantitative Investment Management LLC bought a new position in Armstrong World Industries during the first quarter worth $3,509,000. Ameriprise Financial Inc. boosted its position in Armstrong World Industries by 2.4% in the first quarter. Ameriprise Financial Inc. now owns 145,348 shares of the construction company’s stock worth $6,694,000 after buying an additional 3,340 shares during the last quarter. Engineers Gate Manager LP bought a new position in Armstrong World Industries during the first quarter worth $3,636,000. First Eagle Investment Management LLC boosted its position in Armstrong World Industries by 2.5% in the first quarter. First Eagle Investment Management LLC now owns 1,209,161 shares of the construction company’s stock worth $55,682,000 after buying an additional 29,215 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Armstrong World Industries by 22.4% in the first quarter. Sei Investments Co. now owns 134,202 shares of the construction company’s stock worth $6,180,000 after buying an additional 24,602 shares during the last quarter.
Armstrong World Industries Company Profile
Armstrong World Industries, Inc (AWI) is a global producer of ceiling systems. The Company owns and operates the Building Products (Ceilings) segment. The Company designs, manufactures and sells ceiling systems (primarily mineral fiber, fiberglass wool and metal) around the world. Its products are used in commercial and institutional buildings.
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