Zacks: Brokerages Anticipate Interface, Inc. (NASDAQ:TILE) Will Announce Quarterly Sales of $253.05 Million


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Brokerages predict that Interface, Inc. (NASDAQ:TILE) will post $253.05 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Interface’s earnings. The lowest sales estimate is $252.10 million and the highest is $254.00 million. Interface posted sales of $288.17 million in the same quarter last year, which suggests a negative year over year growth rate of 12.2%. The firm is scheduled to issue its next quarterly earnings results on Friday, May 14th.

On average, analysts expect that Interface will report full-year sales of $1.11 billion for the current year, with estimates ranging from $1.10 billion to $1.12 billion. For the next year, analysts anticipate that the company will report sales of $1.15 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Interface.

Interface (NASDAQ:TILE) last issued its earnings results on Monday, March 1st. The textile maker reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Interface had a positive return on equity of 27.11% and a negative net margin of 6.44%. The firm had revenue of $276.90 million for the quarter, compared to the consensus estimate of $278.83 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. The business’s quarterly revenue was down 18.4% compared to the same quarter last year.

A number of research analysts have commented on the company. Zacks Investment Research downgraded Interface from a “hold” rating to a “sell” rating in a research note on Friday, March 5th. TheStreet upgraded Interface from a “d+” rating to a “c-” rating in a research note on Monday, March 22nd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.70.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Inspire Advisors LLC acquired a new position in shares of Interface during the 4th quarter worth about $31,000. AXA S.A. acquired a new position in shares of Interface during the 3rd quarter worth about $91,000. Jane Street Group LLC acquired a new position in shares of Interface during the 3rd quarter worth about $105,000. ProShare Advisors LLC acquired a new position in shares of Interface during the 4th quarter worth about $147,000. Finally, Citigroup Inc. lifted its position in shares of Interface by 280.9% during the 4th quarter. Citigroup Inc. now owns 14,765 shares of the textile maker’s stock worth $155,000 after purchasing an additional 10,889 shares during the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ TILE opened at $12.64 on Thursday. The business’s 50-day moving average price is $12.76 and its two-hundred day moving average price is $9.78. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.10 and a quick ratio of 1.09. Interface has a one year low of $5.88 and a one year high of $14.35. The company has a market capitalization of $741.23 million, a P/E ratio of -9.80 and a beta of 2.16.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 16th. Stockholders of record on Friday, April 2nd will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. Interface’s dividend payout ratio (DPR) is presently 2.52%.

About Interface

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 band 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 brand names; and luxury vinyl tile products.

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