Armstrong Flooring (AFI) Expected to Post Quarterly Sales of $263.75 Million

Wall Street analysts predict that Armstrong Flooring (NYSE:AFI) will post sales of $263.75 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Armstrong Flooring’s earnings. The highest sales estimate is $267.90 million and the lowest is $259.60 million. Armstrong Flooring posted sales of $265.20 million in the same quarter last year, which suggests a negative year-over-year growth rate of 0.5%. The business is scheduled to report its next quarterly earnings results on Monday, May 14th.

According to Zacks, analysts expect that Armstrong Flooring will report full year sales of $263.75 million for the current financial year, with estimates ranging from $1.13 billion to $1.14 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.16 billion per share. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Armstrong Flooring.

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Armstrong Flooring (NYSE:AFI) last posted its quarterly earnings results on Tuesday, March 6th. The construction company reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.06. Armstrong Flooring had a negative net margin of 3.69% and a positive return on equity of 0.97%. The firm had revenue of $262.70 million for the quarter, compared to the consensus estimate of $266.70 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. The business’s revenue was down 3.3% compared to the same quarter last year.

Separately, Zacks Investment Research upgraded shares of Armstrong Flooring from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Armstrong Flooring currently has a consensus rating of “Hold” and a consensus price target of $23.33.

AFI traded down $0.32 during trading on Friday, reaching $13.63. 51,620 shares of the company’s stock were exchanged, compared to its average volume of 111,011. Armstrong Flooring has a fifty-two week low of $12.91 and a fifty-two week high of $20.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.58 and a quick ratio of 1.02. The company has a market capitalization of $355.52, a P/E ratio of 65.62, a P/E/G ratio of 1.58 and a beta of 2.27.

A number of institutional investors and hedge funds have recently bought and sold shares of AFI. Dimensional Fund Advisors LP lifted its holdings in shares of Armstrong Flooring by 10.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,819,201 shares of the construction company’s stock valued at $28,653,000 after acquiring an additional 166,504 shares during the period. Nationwide Fund Advisors lifted its holdings in shares of Armstrong Flooring by 5.0% during the third quarter. Nationwide Fund Advisors now owns 184,167 shares of the construction company’s stock valued at $2,901,000 after acquiring an additional 8,844 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Armstrong Flooring by 54.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 202,396 shares of the construction company’s stock valued at $3,188,000 after acquiring an additional 71,546 shares during the period. Spark Investment Management LLC bought a new position in shares of Armstrong Flooring during the fourth quarter valued at $3,903,000. Finally, California Public Employees Retirement System lifted its holdings in shares of Armstrong Flooring by 34.5% during the third quarter. California Public Employees Retirement System now owns 81,051 shares of the construction company’s stock valued at $1,277,000 after acquiring an additional 20,801 shares during the period. Hedge funds and other institutional investors own 97.25% of the company’s stock.

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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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Earnings History and Estimates for Armstrong Flooring (NYSE:AFI)

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