Armstrong World Industries (AWI) reported quarterly earnings results on Friday, Jul-29-2016. The company said it had a profit of $0.56 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.50. The company posted revenue of $314.30 million in the period, compared to analysts expectations of $310.89 million. The company’s revenue was down -50.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS.
Many Wall Street Analysts have commented on Armstrong World Industries. Armstrong World Industries was Downgraded by Goldman to ” Sell” on Jul 12, 2016. Armstrong World Industries was Resumed by JP Morgan to “Neutral” on May 16, 2016. Shares were Reiterated by Barclays on May 10, 2016 to “Underweight” and Lowered the Price Target to $ 39 from a previous price target of $45 .
Armstrong World Industries opened for trading at $41.32 and hit $41.9 on the upside on Thursday, eventually ending the session at $41.86, with a gain of 1.18% or 0.49 points. The heightened volatility saw the trading volume jump to 10,93,677 shares. Company has a market cap of $2,322 M.
In a different news, on Aug 19, 2015, Stephen F Mcnamara (Vice President and Controller) sold 2,000 shares at $60.15 per share price.
Armstrong World Industries Inc. is a producer of flooring products and ceiling systems for use in the construction and renovation of residential commercial and institutional buildings. The Company operates in four segments: Building Products which produces suspended mineral fiber soft fiber and metal ceiling systems for use in commercial institutional and residential settings; Resilient Flooring which produces and sources a range of floor coverings for homes and commercial and institutional buildings and Wood Flooring segment produces and sources wood flooring products for use in new residential construction and renovation with commercial applications in stores restaurants and high-end offices. Its brands include Armstrong Alterna BBT BioBased Tile BioGuard Bruce Cirrus Dune Excelon Huiyi Imperial Initiator Laurel Luxe Plank Medintech MetalWorks Optima Perla Plano Stonetex Station Square ToughGuard Ultima and WoodWorks among others.