$0.30 Earnings Per Share Expected for Interface, Inc. (TILE) This Quarter
Analysts predict that Interface, Inc. (NASDAQ:TILE) will post $0.30 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Interface’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.31. Interface posted earnings per share of $0.25 in the same quarter last year, which would indicate a positive year over year growth rate of 20%. The company is scheduled to issue its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Interface will report full-year earnings of $1.13 per share for the current financial year, with EPS estimates ranging from $1.12 to $1.15. For the next fiscal year, analysts forecast that the business will report earnings of $1.30 per share, with EPS estimates ranging from $1.29 to $1.31. Zacks’ EPS averages are an average based on a survey of sell-side analysts that cover Interface.
Interface (NASDAQ:TILE) last issued its quarterly earnings data on Wednesday, July 26th. The textile maker reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. The firm had revenue of $251.70 million during the quarter, compared to analysts’ expectations of $254.94 million. Interface had a net margin of 5.21% and a return on equity of 19.66%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share.
TILE has been the subject of several recent analyst reports. BidaskClub downgraded shares of Interface from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Stifel Nicolaus reissued a “hold” rating and issued a $19.00 price target on shares of Interface in a research report on Friday, July 28th. Finally, ValuEngine cut Interface from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Interface currently has a consensus rating of “Hold” and a consensus price target of $19.00.
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Shares of Interface (NASDAQ TILE) traded up 3.43% on Friday, reaching $19.60. 275,782 shares of the company were exchanged. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 25.23 and a beta of 1.19. The company’s 50-day moving average price is $18.97 and its 200 day moving average price is $19.27. Interface has a 12 month low of $14.59 and a 12 month high of $21.05.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a dividend of $0.065 per share. This is a positive change from Interface’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, August 9th. This represents a $0.26 annualized dividend and a dividend yield of 1.33%. Interface’s payout ratio is presently 33.33%.
In other Interface news, VP Stansfield Nigel sold 8,450 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $19.26, for a total value of $162,747.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel T. Hendrix sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $18.95, for a total value of $113,700.00. The disclosure for this sale can be found here. Insiders sold a total of 26,450 shares of company stock valued at $509,547 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Interface by 144,783.3% during the first quarter. BlackRock Inc. now owns 7,815,006 shares of the textile maker’s stock valued at $148,876,000 after acquiring an additional 7,809,612 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in Interface by 2,392.6% in the second quarter. Thrivent Financial For Lutherans now owns 914,291 shares of the textile maker’s stock worth $17,965,000 after purchasing an additional 877,611 shares during the period. Ariel Investments LLC grew its stake in Interface by 59.0% in the first quarter. Ariel Investments LLC now owns 1,202,898 shares of the textile maker’s stock worth $22,915,000 after purchasing an additional 446,541 shares during the period. Frontier Capital Management Co. LLC grew its stake in Interface by 18.8% in the first quarter. Frontier Capital Management Co. LLC now owns 2,749,905 shares of the textile maker’s stock worth $52,386,000 after purchasing an additional 436,135 shares during the period. Finally, JHL Capital Group LLC purchased a new stake in Interface in the first quarter worth $7,620,000. Hedge funds and other institutional investors own 93.36% of the company’s stock.
Interface Company Profile
Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.
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