Armstrong World Industries Inc (AWI) Expected to Announce Earnings of $0.66 Per Share

Wall Street brokerages forecast that Armstrong World Industries Inc (NYSE:AWI) will announce earnings per share (EPS) of $0.66 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Armstrong World Industries’ earnings. The lowest EPS estimate is $0.60 and the highest is $0.71. Armstrong World Industries posted earnings of $0.45 per share during the same quarter last year, which would indicate a positive year over year growth rate of 46.7%. The business is expected to report its next earnings results on Monday, February 26th.

According to Zacks, analysts expect that Armstrong World Industries will report full-year earnings of $2.85 per share for the current financial year, with EPS estimates ranging from $2.74 to $2.99. For the next financial year, analysts anticipate that the firm will report earnings of $3.11 per share, with EPS estimates ranging from $2.96 to $3.27. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Armstrong World Industries.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings data on Monday, October 30th. The construction company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Armstrong World Industries had a net margin of 11.44% and a return on equity of 46.62%. The business had revenue of $351.90 million during the quarter, compared to analyst estimates of $357.29 million. During the same period in the previous year, the firm posted $0.99 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis.

Several equities research analysts recently issued reports on AWI shares. Royal Bank of Canada reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Armstrong World Industries in a research note on Wednesday, November 15th. Jefferies Group started coverage on shares of Armstrong World Industries in a research note on Tuesday, December 12th. They issued a “hold” rating and a $62.00 price objective for the company. Citigroup lifted their price objective on shares of Armstrong World Industries from $52.00 to $58.00 and gave the company a “neutral” rating in a research note on Friday, October 20th. SunTrust Banks reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Armstrong World Industries in a research note on Wednesday, November 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Armstrong World Industries in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $56.50.

In related news, SVP Ellen R. Romano sold 33,087 shares of Armstrong World Industries stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $54.68, for a total value of $1,809,197.16. Following the transaction, the senior vice president now owns 14,769 shares in the company, valued at approximately $807,568.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.60% of the company’s stock.

Several large investors have recently bought and sold shares of AWI. Timucuan Asset Management Inc. FL bought a new position in shares of Armstrong World Industries during the 2nd quarter worth about $19,748,000. Fiduciary Management Inc. WI increased its holdings in shares of Armstrong World Industries by 10.2% during the 3rd quarter. Fiduciary Management Inc. WI now owns 2,071,579 shares of the construction company’s stock worth $106,168,000 after purchasing an additional 190,895 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Armstrong World Industries by 97.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 355,648 shares of the construction company’s stock worth $16,360,000 after purchasing an additional 175,944 shares during the period. Tiger Global Management LLC increased its holdings in shares of Armstrong World Industries by 8.2% during the 2nd quarter. Tiger Global Management LLC now owns 1,779,431 shares of the construction company’s stock worth $81,854,000 after purchasing an additional 134,431 shares during the period. Finally, Dean Investment Associates LLC bought a new position in shares of Armstrong World Industries during the 3rd quarter worth about $3,267,000.

Shares of Armstrong World Industries (NYSE:AWI) opened at $61.90 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 2.25. Armstrong World Industries has a 52 week low of $38.45 and a 52 week high of $64.60. The stock has a market cap of $3,270.00, a price-to-earnings ratio of 23.27, a P/E/G ratio of 1.71 and a beta of 1.78.

Armstrong World Industries declared that its Board of Directors has approved a stock repurchase program on Monday, October 30th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the construction company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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Armstrong World Industries Company Profile

Armstrong World Industries, Inc (AWI) is a global producer of ceiling systems. The Company owns and operates the Building Products (Ceilings) segment. The Company designs, manufactures and sells ceiling systems (primarily mineral fiber, fiberglass wool and metal) around the world. Its products are used in commercial and institutional buildings.

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