Jefferies Financial Group Weighs in on Armstrong World Industries Inc’s FY2018 Earnings (AWI)

Armstrong World Industries Inc (NYSE:AWI) – Stock analysts at Jefferies Financial Group cut their FY2018 EPS estimates for Armstrong World Industries in a report released on Wednesday, October 31st. Jefferies Financial Group analyst P. Ng now anticipates that the construction company will earn $3.77 per share for the year, down from their previous estimate of $3.79. Jefferies Financial Group currently has a “Hold” rating and a $70.00 target price on the stock. Jefferies Financial Group also issued estimates for Armstrong World Industries’ Q4 2018 earnings at $0.87 EPS, Q2 2019 earnings at $1.20 EPS, Q3 2019 earnings at $1.38 EPS, Q4 2019 earnings at $1.10 EPS, FY2019 earnings at $4.68 EPS and FY2020 earnings at $5.24 EPS.

Armstrong World Industries (NYSE:AWI) last released its quarterly earnings results on Tuesday, October 30th. The construction company reported $1.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.06). Armstrong World Industries had a net margin of 19.46% and a return on equity of 43.76%. The firm had revenue of $260.50 million during the quarter, compared to analyst estimates of $252.96 million. During the same period in the prior year, the business earned $0.90 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year.

Other analysts also recently issued research reports about the company. KeyCorp raised Armstrong World Industries from a “sector weight” rating to an “overweight” rating and set a $76.00 price target on the stock in a research note on Friday. SunTrust Banks lifted their price target on Armstrong World Industries to $78.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. ValuEngine downgraded Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Goldman Sachs Group initiated coverage on Armstrong World Industries in a research note on Tuesday, October 2nd. They issued a “neutral” rating and a $70.00 price target on the stock. Finally, Zacks Investment Research cut Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $69.00.

Shares of AWI traded up $2.22 during midday trading on Friday, hitting $66.31. The stock had a trading volume of 7,691 shares, compared to its average volume of 573,876. Armstrong World Industries has a twelve month low of $49.25 and a twelve month high of $73.45. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 0.92 and a beta of 1.70. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.24 and a quick ratio of 2.01.

In related news, Director Holdings L.P. Valueact sold 100,000 shares of Armstrong World Industries stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $70.03, for a total transaction of $7,003,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark A. Hershey sold 2,217 shares of Armstrong World Industries stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $70.04, for a total value of $155,278.68. Following the transaction, the senior vice president now owns 38,516 shares of the company’s stock, valued at approximately $2,697,660.64. The disclosure for this sale can be found here. Insiders sold a total of 1,667,990 shares of company stock valued at $115,566,762 in the last 90 days. 1.94% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Chicago Equity Partners LLC bought a new position in Armstrong World Industries during the third quarter worth about $665,000. Round Table Services LLC bought a new position in Armstrong World Industries during the third quarter worth about $229,000. OLD National Bancorp IN bought a new position in Armstrong World Industries during the third quarter worth about $334,000. Russell Investments Group Ltd. grew its holdings in Armstrong World Industries by 3.5% during the third quarter. Russell Investments Group Ltd. now owns 84,315 shares of the construction company’s stock worth $5,869,000 after purchasing an additional 2,831 shares during the period. Finally, First Trust Advisors LP grew its holdings in Armstrong World Industries by 499.1% during the third quarter. First Trust Advisors LP now owns 99,858 shares of the construction company’s stock worth $6,950,000 after purchasing an additional 83,191 shares during the period.

About Armstrong World Industries

Armstrong World Industries, Inc designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings worldwide. It principally offers mineral fiber, fiberglass wool, and metal ceiling systems. The company produces suspended mineral fiber and soft fiber ceiling systems; suspension system (grid) and ceiling component products; and acoustical ceiling, wall, and structural solutions.

See Also: Return on Equity (ROE)

Earnings History and Estimates for Armstrong World Industries (NYSE:AWI)

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