FY2017 Earnings Forecast for Armstrong World Industries Inc Issued By SunTrust Banks (AWI)

Armstrong World Industries Inc (NYSE:AWI) – Stock analysts at SunTrust Banks cut their FY2017 earnings per share (EPS) estimates for shares of Armstrong World Industries in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst K. Hughes now forecasts that the construction company will post earnings per share of $2.72 for the year, down from their prior estimate of $2.73. SunTrust Banks also issued estimates for Armstrong World Industries’ Q1 2018 earnings at $0.64 EPS, Q2 2018 earnings at $0.84 EPS, Q3 2018 earnings at $0.99 EPS, Q4 2018 earnings at $0.65 EPS and FY2018 earnings at $3.13 EPS.

AWI has been the topic of several other reports. Zacks Investment Research upgraded Armstrong World Industries from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Monday, April 24th. BidaskClub cut Armstrong World Industries from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Deutsche Bank AG raised their price objective on Armstrong World Industries from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday. ValuEngine upgraded Armstrong World Industries from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Instinet raised their price objective on Armstrong World Industries from $20.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, April 17th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Armstrong World Industries currently has an average rating of “Hold” and a consensus target price of $46.00.

Shares of Armstrong World Industries (AWI) traded up 1.82% during trading on Wednesday, hitting $47.60. 399,913 shares of the stock were exchanged. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 15.46 and a beta of 1.65. The firm has a 50 day moving average of $45.18 and a 200-day moving average of $44.12. Armstrong World Industries has a 12-month low of $36.38 and a 12-month high of $49.55.

Armstrong World Industries (NYSE:AWI) last announced its earnings results on Monday, July 31st. The construction company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. The business had revenue of $330.80 million for the quarter, compared to analysts’ expectations of $330.92 million. Armstrong World Industries had a net margin of 13.24% and a return on equity of 49.73%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS.

A number of large investors have recently modified their holdings of the company. First Eagle Investment Management LLC raised its stake in shares of Armstrong World Industries by 9.5% in the second quarter. First Eagle Investment Management LLC now owns 1,323,541 shares of the construction company’s stock valued at $60,883,000 after buying an additional 114,380 shares in the last quarter. Blair William & Co. IL bought a new stake in shares of Armstrong World Industries during the second quarter valued at $320,000. KBC Group NV raised its stake in shares of Armstrong World Industries by 37.4% in the second quarter. KBC Group NV now owns 149,553 shares of the construction company’s stock valued at $6,879,000 after buying an additional 40,670 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Armstrong World Industries by 65.3% in the second quarter. BNP Paribas Arbitrage SA now owns 3,520 shares of the construction company’s stock valued at $162,000 after buying an additional 1,391 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Armstrong World Industries during the second quarter valued at $149,000.

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.