FY2017 Earnings Forecast for Armstrong Flooring, Inc. (AFI) Issued By SunTrust Banks
Armstrong Flooring, Inc. (NYSE:AFI) – Analysts at SunTrust Banks decreased their FY2017 earnings estimates for Armstrong Flooring in a research note issued to investors on Monday. SunTrust Banks analyst K. Hughes now forecasts that the construction company will earn $0.16 per share for the year, down from their previous estimate of $0.22. SunTrust Banks has a “Hold” rating and a $15.00 price objective on the stock. SunTrust Banks also issued estimates for Armstrong Flooring’s Q2 2018 earnings at $0.32 EPS, Q3 2018 earnings at $0.29 EPS, Q4 2018 earnings at ($0.01) EPS and FY2018 earnings at $0.59 EPS.
Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus restated a “hold” rating and issued a $20.00 price target on shares of Armstrong Flooring in a research report on Monday, August 7th. TheStreet cut Armstrong Flooring from a “c-” rating to a “d+” rating in a research report on Monday, August 21st. Nomura reiterated a “neutral” rating on shares of Armstrong Flooring in a research report on Tuesday, August 8th. Gabelli cut Armstrong Flooring from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a research report on Tuesday, August 8th. Finally, Zacks Investment Research cut Armstrong Flooring from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Armstrong Flooring has an average rating of “Hold” and an average price target of $24.20.
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Armstrong Flooring (NYSE:AFI) last issued its quarterly earnings results on Monday, November 6th. The construction company reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.07). The company had revenue of $308.50 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 EPS.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AFI. Kirr Marbach & Co. LLC IN grew its holdings in shares of Armstrong Flooring by 47.6% in the 2nd quarter. Kirr Marbach & Co. LLC IN now owns 24,490 shares of the construction company’s stock worth $440,000 after acquiring an additional 7,900 shares during the period. Russell Investments Group Ltd. lifted its stake in Armstrong Flooring by 46.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 771,147 shares of the construction company’s stock valued at $13,856,000 after buying an additional 246,357 shares in the last quarter. Strs Ohio lifted its stake in Armstrong Flooring by 1.9% in the 2nd quarter. Strs Ohio now owns 37,700 shares of the construction company’s stock valued at $677,000 after buying an additional 700 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in Armstrong Flooring in the 2nd quarter valued at approximately $742,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in Armstrong Flooring by 40.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 130,850 shares of the construction company’s stock valued at $2,352,000 after buying an additional 37,543 shares in the last quarter.
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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