$254.58 Million in Sales Expected for Interface, Inc. (TILE) This Quarter
Wall Street analysts predict that Interface, Inc. (NASDAQ:TILE) will announce sales of $254.58 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 $251.00 million and the highest estimate coming in at $256.20 million. Interface posted sales of $248.35 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.5%. The firm is scheduled to report its next earnings results on Wednesday, October 25th.
On average, analysts expect that Interface will report full year sales of $254.58 million for the current fiscal year, with estimates ranging from $966.80 million to $979.90 million. For the next financial year, analysts expect that the firm will report sales of $1.02 billion per share, with estimates ranging from $995.80 million to $1.04 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Interface.
Interface (NASDAQ:TILE) last announced its quarterly earnings data on Wednesday, July 26th. The textile maker reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The firm had revenue of $251.70 million during the quarter, compared to the consensus estimate of $254.94 million. Interface had a return on equity of 19.66% and a net margin of 5.21%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS.
TILE has been the subject of a number of research analyst reports. BidaskClub cut Interface from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. ValuEngine raised Interface from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $19.00 price target on shares of Interface in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $19.00.
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Shares of Interface (TILE) opened at 19.60 on Monday. Interface has a 52 week low of $14.59 and a 52 week high of $21.05. The company has a 50-day moving average price of $18.97 and a 200 day moving average price of $19.27. The stock has a market capitalization of $1.21 billion, a P/E ratio of 25.23 and a beta of 1.19.
The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.33%. This is a positive change from Interface’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, August 9th. Interface’s payout ratio is 33.33%.
In other news, Director Daniel T. Hendrix sold 6,000 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $18.95, for a total value of $113,700.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Stansfield Nigel sold 8,450 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $19.26, for a total value of $162,747.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,450 shares of company stock worth $509,547. Corporate insiders own 1.90% of the company’s stock.
Several institutional investors have recently modified their holdings of TILE. BlackRock Inc. lifted its holdings in shares of Interface by 144,783.3% in the first quarter. BlackRock Inc. now owns 7,815,006 shares of the textile maker’s stock valued at $148,876,000 after purchasing an additional 7,809,612 shares in the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of Interface by 2,392.6% in the second quarter. Thrivent Financial For Lutherans now owns 914,291 shares of the textile maker’s stock valued at $17,965,000 after purchasing an additional 877,611 shares in the last quarter. Ariel Investments LLC lifted its holdings in shares of Interface by 59.0% in the first quarter. Ariel Investments LLC now owns 1,202,898 shares of the textile maker’s stock valued at $22,915,000 after purchasing an additional 446,541 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of 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 valued at $52,386,000 after purchasing an additional 436,135 shares in the last quarter. Finally, JHL Capital Group LLC bought a new stake in shares of Interface in the first quarter valued at about $7,620,000. Institutional investors own 93.36% of the company’s stock.
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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