Zacks: Brokerages Anticipate Armstrong Flooring, Inc. (AFI) Will Announce Earnings of -$0.20 Per Share

Wall Street analysts expect that Armstrong Flooring, Inc. (NYSE:AFI) will post ($0.20) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Armstrong Flooring’s earnings. The highest EPS estimate is ($0.16) and the lowest is ($0.24). Armstrong Flooring reported earnings per share of ($0.09) during the same quarter last year, which would suggest a negative year-over-year growth rate of 122.2%. The company is expected to announce its next earnings report on Monday, March 5th.

According to Zacks, analysts expect that Armstrong Flooring will report full-year earnings of $0.15 per share for the current financial year, with EPS estimates ranging from $0.09 to $0.20. For the next fiscal year, analysts anticipate that the business will post earnings of $0.44 per share, with EPS estimates ranging from $0.19 to $0.59. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Armstrong Flooring.

Armstrong Flooring (NYSE:AFI) last released its quarterly earnings results on Monday, November 6th. The construction company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.07). Armstrong Flooring had a negative net margin of 2.40% and a positive return on equity of 1.06%. The company had revenue of $308.50 million for the quarter, compared to the consensus estimate of $294.68 million. During the same period last year, the company earned $0.43 earnings per share. Armstrong Flooring’s revenue for the quarter was down 1.6% compared to the same quarter last year.

Several analysts have recently commented on AFI shares. TheStreet raised shares of Armstrong Flooring from a “d+” rating to a “c-” rating in a research note on Tuesday, November 28th. Zacks Investment Research raised shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Armstrong Flooring in a research note on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $24.20.

Armstrong Flooring (AFI) traded down $0.26 on Tuesday, hitting $17.08. 72,472 shares of the stock traded hands, compared to its average volume of 200,937. Armstrong Flooring has a twelve month low of $13.32 and a twelve month high of $22.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.66 and a quick ratio of 0.98. The company has a market capitalization of $419.32, a PE ratio of -16.91 and a beta of 4.89.

Hedge funds have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. boosted its stake in 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 acquiring an additional 5,102 shares during the last quarter. Voya Investment Management LLC raised its holdings in Armstrong Flooring by 13.7% in the second quarter. Voya Investment Management LLC now owns 12,876 shares of the construction company’s stock worth $231,000 after purchasing an additional 1,551 shares during the period. Citadel Advisors LLC acquired a new stake in Armstrong Flooring in the second quarter worth $330,000. KBC Group NV raised its holdings in Armstrong Flooring by 1.2% in the second quarter. KBC Group NV now owns 18,663 shares of the construction company’s stock worth $335,000 after purchasing an additional 225 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in 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 worth $351,000 after purchasing an additional 1,056 shares during the period. 98.53% of the stock is currently owned by hedge funds and other institutional investors.

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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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Earnings History and Estimates for Armstrong Flooring (NYSE:AFI)

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