Armstrong Flooring Inc (AFI) Expected to Post Quarterly Sales of $261.25 Million

Brokerages expect that Armstrong Flooring Inc (NYSE:AFI) will report sales of $261.25 million for the current quarter, according to Zacks. Two analysts have provided estimates for Armstrong Flooring’s earnings, with the lowest sales estimate coming in at $260.60 million and the highest estimate coming in at $261.90 million. Armstrong Flooring posted sales of $271.70 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.8%. The business is expected to report its next earnings report on Monday, March 5th.

According to Zacks, analysts expect that Armstrong Flooring will report full-year sales of $261.25 million for the current year. For the next financial year, analysts forecast that the business will post sales of $1.13 billion per share, with estimates ranging from $1.12 billion to $1.15 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Armstrong Flooring.

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

Several research firms have recently weighed in on AFI. TheStreet upgraded shares of Armstrong Flooring from a “d+” rating to a “c-” rating in a research note on Tuesday, November 28th. Zacks Investment Research upgraded shares of Armstrong Flooring from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Tuesday, January 9th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $15.00 price objective on shares of Armstrong Flooring in a research note on Monday, October 2nd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Armstrong Flooring presently has a consensus rating of “Hold” and an average price target of $23.33.

Armstrong Flooring (NYSE:AFI) traded up $0.14 during trading hours on Tuesday, hitting $16.44. 43,852 shares of the stock traded hands, compared to its average volume of 72,197. The company has a market cap of $424.72, a price-to-earnings ratio of -16.24 and a beta of 4.92. The company has a quick ratio of 0.98, a current ratio of 2.66 and a debt-to-equity ratio of 0.17. Armstrong Flooring has a 12 month low of $13.32 and a 12 month high of $22.96.

Hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC increased its stake in Armstrong Flooring by 13.7% during the 2nd 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 bought a new stake in Armstrong Flooring during the 2nd quarter valued at $330,000. The Manufacturers Life Insurance Company increased its stake in Armstrong Flooring by 5.7% during the 2nd 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. Alliancebernstein L.P. increased its stake in Armstrong Flooring by 34.9% during the 2nd quarter. Alliancebernstein L.P. now owns 19,710 shares of the construction company’s stock valued at $354,000 after purchasing an additional 5,100 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Armstrong Flooring by 65.9% during the 2nd quarter. Citigroup Inc. now owns 21,385 shares of the construction company’s stock valued at $385,000 after purchasing an additional 8,497 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

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About Armstrong Flooring

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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