Zacks: Analysts Expect Armstrong Flooring Inc (AFI) Will Post Quarterly Sales of $310.40 Million

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Wall Street brokerages expect that Armstrong Flooring Inc (NYSE:AFI) will announce sales of $310.40 million for the current quarter, according to Zacks. Two analysts have provided estimates for Armstrong Flooring’s earnings. The highest sales estimate is $314.00 million and the lowest is $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 scheduled to issue its next quarterly earnings results on Monday, November 5th.

According to Zacks, analysts expect that Armstrong Flooring will report full-year sales of $1.14 billion for the current fiscal year, with estimates ranging from $1.13 billion to $1.15 billion. For the next year, analysts expect that the company will report sales of $1.16 billion, with estimates ranging from $1.16 billion to $1.17 billion. Zacks’ sales averages 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 results on Tuesday, August 7th. The construction company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $293.00 million.

Several research firms have recently commented on AFI. Macquarie set a $18.00 price target on shares of Armstrong Flooring and gave the company a “hold” rating in a research report on Friday, September 14th. ValuEngine upgraded Armstrong Flooring from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Zacks Investment Research upgraded Armstrong Flooring from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research note on Friday, August 10th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $17.00 price objective on shares of Armstrong Flooring in a research note on Thursday, August 9th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Armstrong Flooring currently has a consensus rating of “Hold” and a consensus price target of $17.25.

Shares of NYSE AFI traded down $0.17 during midday trading on Monday, hitting $17.09. 135,937 shares of the company’s stock traded hands, compared to its average volume of 122,419. Armstrong Flooring has a 1 year low of $12.03 and a 1 year high of $20.46. The firm has a market capitalization of $466.48 million, a P/E ratio of 81.38, a PEG ratio of 1.95 and a beta of 2.49. The company has a quick ratio of 0.93, a current ratio of 2.43 and a debt-to-equity ratio of 0.13.

Large investors have recently made changes to their positions in the stock. Strs Ohio grew its stake in shares of Armstrong Flooring by 8.8% during the 2nd quarter. Strs Ohio now owns 52,900 shares of the construction company’s stock valued at $742,000 after acquiring an additional 4,300 shares during the period. Hartford Investment Management Co. bought a new position in shares of Armstrong Flooring during the 2nd quarter valued at approximately $153,000. Nantahala Capital Management LLC grew its stake in shares of Armstrong Flooring by 15.7% during the 2nd quarter. Nantahala Capital Management LLC now owns 1,653,016 shares of the construction company’s stock valued at $23,208,000 after acquiring an additional 224,695 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of Armstrong Flooring by 1.5% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,427,033 shares of the construction company’s stock valued at $20,036,000 after acquiring an additional 20,520 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Armstrong Flooring by 43.6% during the 1st quarter. Millennium Management LLC now owns 257,279 shares of the construction company’s stock valued at $3,491,000 after acquiring an additional 78,091 shares during the period. Institutional investors own 96.56% of the company’s stock.

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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