Brokerages forecast that Interface, Inc. (NASDAQ:TILE) will post sales of $346.15 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Interface’s earnings, with the lowest sales estimate coming in at $344.00 million and the highest estimate coming in at $349.90 million. Interface reported sales of $318.33 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.7%. The business is expected to announce its next quarterly earnings report on Wednesday, October 23rd.
According to Zacks, analysts expect that Interface will report full year sales of $1.35 billion for the current financial year. For the next financial year, analysts anticipate that the business will post sales of $1.39 billion, with estimates ranging from $1.39 billion to $1.40 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Interface.
Interface (NASDAQ:TILE) last issued its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The business had revenue of $357.50 million during the quarter, compared to analysts’ expectations of $358.37 million. Interface had a return on equity of 24.81% and a net margin of 3.90%. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS.
TILE has been the subject of several recent analyst reports. ValuEngine lowered Interface from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research lowered Interface from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. BidaskClub lowered Interface from a “sell” rating to a “strong sell” rating in a research note on Friday, August 2nd. Finally, SunTrust Banks set a $17.00 price target on Interface and gave the company a “buy” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $20.33.
Shares of TILE stock traded up $0.09 on Wednesday, hitting $11.07. The company had a trading volume of 482,300 shares, compared to its average volume of 367,159. The firm has a market cap of $664.06 million, a P/E ratio of 7.43 and a beta of 1.46. The company has a 50-day moving average price of $14.03 and a 200-day moving average price of $15.65. The company has a quick ratio of 1.33, a current ratio of 2.49 and a debt-to-equity ratio of 2.10. Interface has a twelve month low of $10.76 and a twelve month high of $24.20.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.26 annualized dividend and a yield of 2.35%. Interface’s dividend payout ratio (DPR) is currently 17.45%.
A number of large investors have recently bought and sold shares of TILE. Texas Permanent School Fund lifted its holdings in Interface by 3.6% in the first quarter. Texas Permanent School Fund now owns 40,368 shares of the textile maker’s stock valued at $618,000 after acquiring an additional 1,419 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Interface in the first quarter valued at $164,000. FMR LLC raised its stake in shares of Interface by 15.8% in the fourth quarter. FMR LLC now owns 2,788,403 shares of the textile maker’s stock valued at $39,735,000 after acquiring an additional 379,771 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Interface by 76.0% in the fourth quarter. Deutsche Bank AG now owns 364,419 shares of the textile maker’s stock valued at $5,190,000 after acquiring an additional 157,319 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Interface in the fourth quarter valued at $19,838,000. Institutional investors own 90.04% of the company’s stock.
Interface Company Profile
Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.
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