Armstrong Flooring Inc (AFI) Expected to Post Earnings of -$0.16 Per Share

Wall Street brokerages expect Armstrong Flooring Inc (NYSE:AFI) to announce earnings per share (EPS) of ($0.16) for the current quarter, Zacks reports. Two analysts have made estimates for Armstrong Flooring’s earnings, with estimates ranging from ($0.28) to ($0.03). Armstrong Flooring posted earnings per share of ($0.24) during the same quarter last year, which suggests a positive year over year growth rate of 33.3%. The company is scheduled to issue its next earnings results on Tuesday, May 14th.

According to Zacks, analysts expect that Armstrong Flooring will report full year earnings of $0.28 per share for the current year, with EPS estimates ranging from $0.17 to $0.35. For the next year, analysts forecast that the firm will post earnings of $0.55 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Armstrong Flooring.

Armstrong Flooring (NYSE:AFI) last posted its earnings results on Tuesday, March 5th. The construction company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.18). The firm had revenue of $153.80 million for the quarter, compared to analyst estimates of $233.94 million. Armstrong Flooring had a negative net margin of 15.86% and a positive return on equity of 1.78%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.68) earnings per share.

A number of equities research analysts have commented on AFI shares. Nomura set a $14.00 price objective on shares of Armstrong Flooring and gave the stock a “hold” rating in a report on Monday, January 14th. Zacks Investment Research lowered shares of Armstrong Flooring from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Finally, Zelman & Associates raised shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.60.

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantamental Technologies LLC bought a new position in shares of Armstrong Flooring in the fourth quarter worth about $25,000. Csenge Advisory Group purchased a new position in shares of Armstrong Flooring during the 3rd quarter worth approximately $41,000. Legal & General Group Plc increased its stake in shares of Armstrong Flooring by 23.8% during the 4th quarter. Legal & General Group Plc now owns 3,865 shares of the construction company’s stock worth $46,000 after purchasing an additional 742 shares in the last quarter. ClariVest Asset Management LLC purchased a new position in shares of Armstrong Flooring during the 4th quarter worth approximately $76,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Armstrong Flooring by 296.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,530 shares of the construction company’s stock worth $77,000 after purchasing an additional 4,881 shares in the last quarter. 98.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Armstrong Flooring stock traded up $0.14 during mid-day trading on Thursday, reaching $14.38. 2,013 shares of the stock were exchanged, compared to its average volume of 208,734. The stock has a market capitalization of $370.49 million, a P/E ratio of 65.23, a price-to-earnings-growth ratio of 2.67 and a beta of 2.26. The company has a quick ratio of 1.36, a current ratio of 2.17 and a debt-to-equity ratio of 0.18. Armstrong Flooring has a fifty-two week low of $11.39 and a fifty-two week high of $20.46.

Armstrong Flooring Company Profile

Armstrong Flooring, Inc, together with its subsidiaries, designs, manufactures, sources, and sells resilient flooring products for use primarily in the construction and renovation of commercial, residential, and institutional buildings in North America and the Pacific Rim. The company sells its products to independent wholesale flooring distributors, retailers, builders, contractors, installers, property management firms, homeowners, and others.

Featured Story: Trading Options- What is a Strangle?

Get a free copy of the Zacks research report on Armstrong Flooring (AFI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Armstrong Flooring Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Armstrong Flooring and related companies with MarketBeat.com's FREE daily email newsletter.