$327.00 Million in Sales Expected for Armstrong Flooring, Inc. (NYSE:AFI) This Quarter
Wall Street analysts forecast that Armstrong Flooring, Inc. (NYSE:AFI) will post $327.00 million in sales 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 $325.00 million and the highest estimate coming in at $329.00 million. Armstrong Flooring reported sales of $323.70 million in the same quarter last year, which would suggest a positive year over year growth rate of 1%. The business is expected to report its next earnings report on Friday, August 11th.
According to Zacks, analysts expect that Armstrong Flooring will report full-year sales of $327.00 million for the current financial year, with estimates ranging from $1.19 billion to $1.21 billion. For the next financial year, analysts expect that the business will post sales of $1.24 billion per share, with estimates ranging from $1.21 billion to $1.27 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Armstrong Flooring.
Armstrong Flooring (NYSE:AFI) last announced its quarterly earnings results on Monday, May 8th. The construction company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.02. Armstrong Flooring had a negative net margin of 0.01% and a positive return on equity of 2.72%. The company had revenue of $265.20 million for the quarter, compared to analyst estimates of $274.41 million. The company’s revenue was down 6.8% compared to the same quarter last year.
A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Nomura assumed coverage on shares of Armstrong Flooring in a research note on Wednesday, April 12th. They set a “neutral” rating and a $19.00 price objective for the company. Finally, Instinet upped their price objective on shares of Armstrong Flooring from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, April 17th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $26.75.
Shares of Armstrong Flooring (AFI) traded up 0.56% during midday trading on Friday, hitting $17.81. 73,934 shares of the company’s stock were exchanged. Armstrong Flooring has a one year low of $15.48 and a one year high of $22.96. The firm has a market cap of $492.68 million, a PE ratio of 225.44 and a beta of 4.61. The stock’s 50-day moving average price is $18.65 and its 200 day moving average price is $19.57.
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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