Brokerages expect Interface, Inc. (NASDAQ:TILE) to announce $276.08 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Interface’s earnings. The highest sales estimate is $280.60 million and the lowest is $270.30 million. Interface posted sales of $251.70 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.7%. The business is expected to announce its next quarterly earnings results on Wednesday, July 25th.
According to Zacks, analysts expect that Interface will report full year sales of $1.06 billion for the current fiscal year, with estimates ranging from $1.04 billion to $1.07 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.10 billion per share, with estimates ranging from $1.08 billion to $1.12 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Interface.
Interface (NASDAQ:TILE) last posted its earnings results on Wednesday, April 25th. The textile maker reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Interface had a net margin of 5.88% and a return on equity of 22.51%. The business had revenue of $241.00 million for the quarter, compared to analyst estimates of $234.96 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year.
A number of equities research analysts have commented on the stock. ValuEngine raised shares of Interface from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub raised shares of Interface from a “hold” rating to a “buy” rating in a report on Tuesday, March 27th. Finally, Zacks Investment Research raised shares of Interface from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Interface currently has an average rating of “Hold” and an average price target of $25.67.
A number of large investors have recently modified their holdings of TILE. Xact Kapitalforvaltning AB bought a new stake in Interface during the 4th quarter worth about $210,000. Wolverine Trading LLC bought a new stake in Interface during the 4th quarter worth about $218,000. Amalgamated Bank bought a new stake in Interface during the 4th quarter worth about $219,000. Two Sigma Securities LLC bought a new stake in Interface during the 4th quarter worth about $240,000. Finally, First Mercantile Trust Co. grew its holdings in Interface by 90.1% during the 1st quarter. First Mercantile Trust Co. now owns 9,687 shares of the textile maker’s stock worth $244,000 after acquiring an additional 4,592 shares during the last quarter. 96.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:TILE opened at $22.60 on Thursday. Interface has a 12 month low of $22.45 and a 12 month high of $22.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.44 and a current ratio of 2.60. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 18.48 and a beta of 1.24.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 11th will be issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, May 10th. Interface’s dividend payout ratio is currently 22.03%.
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; and luxury vinyl tile products.
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