Armstrong Flooring Inc to Post Q2 2019 Earnings of $0.51 Per Share, SunTrust Banks Forecasts (AFI)

Armstrong Flooring Inc (NYSE:AFI) – SunTrust Banks lifted their Q2 2019 EPS estimates for Armstrong Flooring in a research report issued on Wednesday, November 7th. SunTrust Banks analyst K. Hughes now anticipates that the construction company will earn $0.51 per share for the quarter, up from their previous estimate of $0.41. SunTrust Banks also issued estimates for Armstrong Flooring’s Q3 2019 earnings at $0.49 EPS and FY2019 earnings at $0.99 EPS.

Armstrong Flooring (NYSE:AFI) last released its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.13. Armstrong Flooring had a negative net margin of 1.12% and a positive return on equity of 2.71%. The business had revenue of $309.70 million for the quarter, compared to analysts’ expectations of $313.82 million. During the same period in the prior year, the firm earned $0.20 earnings per share. Armstrong Flooring’s revenue was up .4% compared to the same quarter last year.

A number of other brokerages have also recently commented on AFI. Macquarie set a $18.00 target price on shares of Armstrong Flooring and gave the company a “hold” rating in a report on Friday, September 14th. Zacks Investment Research upgraded shares of Armstrong Flooring from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a report on Friday, August 10th. Stifel Nicolaus restated a “hold” rating and set a $17.00 target price on shares of Armstrong Flooring in a report on Thursday, August 9th. Finally, ValuEngine upgraded shares of Armstrong Flooring from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Three investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $17.67.

AFI opened at $15.73 on Friday. Armstrong Flooring has a one year low of $12.03 and a one year high of $20.46. The company has a market cap of $395.16 million, a PE ratio of 74.90, a P/E/G ratio of 1.56 and a beta of 2.27. The company has a current ratio of 2.60, a quick ratio of 0.93 and a debt-to-equity ratio of 0.17.

Several hedge funds have recently made changes to their positions in AFI. Nisa Investment Advisors LLC bought a new stake in shares of Armstrong Flooring during the 2nd quarter valued at $114,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Armstrong Flooring during the 2nd quarter valued at $141,000. Hartford Investment Management Co. bought a new stake in shares of Armstrong Flooring during the 2nd quarter valued at $153,000. Cubist Systematic Strategies LLC bought a new stake in shares of Armstrong Flooring during the 2nd quarter valued at $153,000. Finally, Aperio Group LLC bought a new stake in shares of Armstrong Flooring during the 2nd quarter valued at $156,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.

Armstrong Flooring Company Profile

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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