Equities analysts expect Interface, Inc. (NASDAQ:TILE) to post sales of $344.82 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Interface’s earnings. The highest sales estimate is $349.20 million and the lowest is $342.00 million. Interface reported sales of $266.21 million during the same quarter last year, which indicates a positive year-over-year growth rate of 29.5%. The company is expected to announce its next quarterly earnings results on Wednesday, February 20th.
On average, analysts expect that Interface will report full-year sales of $1.19 billion for the current financial year, with estimates ranging from $1.18 billion to $1.19 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.40 billion, with estimates ranging from $1.38 billion to $1.43 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Interface.
Interface (NASDAQ:TILE) last released its earnings results on Wednesday, October 24th. The textile maker reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. Interface had a net margin of 4.35% and a return on equity of 24.69%. The firm had revenue of $318.33 million for the quarter, compared to analyst estimates of $316.38 million. During the same period in the prior year, the firm earned $0.32 earnings per share.
A number of research firms recently weighed in on TILE. BidaskClub lowered shares of Interface from a “sell” rating to a “strong sell” rating in a research note on Friday. ValuEngine upgraded shares of Interface from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Longbow Research upgraded shares of Interface from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Tuesday, August 14th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Interface from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a research note on Friday, August 10th. Finally, TheStreet lowered shares of Interface from a “b” rating to a “c+” rating in a research note on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Interface has a consensus rating of “Hold” and an average price target of $25.33.
Shares of TILE stock traded down $0.22 during trading hours on Wednesday, reaching $15.11. 485,237 shares of the stock were exchanged, compared to its average volume of 378,527. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.35 and a current ratio of 2.52. Interface has a 12-month low of $14.91 and a 12-month high of $26.25. The firm has a market capitalization of $912.44 million, a price-to-earnings ratio of 12.81 and a beta of 1.49.
The business also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Friday, November 9th were paid a $0.065 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $0.26 annualized dividend and a yield of 1.72%. Interface’s dividend payout ratio is currently 22.03%.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Interface by 2.0% in the third quarter. Vanguard Group Inc. now owns 5,981,953 shares of the textile maker’s stock valued at $139,679,000 after purchasing an additional 115,036 shares during the last quarter. Legal & General Group Plc increased its stake in Interface by 7.2% in the third quarter. Legal & General Group Plc now owns 139,152 shares of the textile maker’s stock valued at $3,244,000 after purchasing an additional 9,301 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Interface by 5.4% in the third quarter. TIAA CREF Investment Management LLC now owns 345,744 shares of the textile maker’s stock valued at $8,073,000 after purchasing an additional 17,848 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Interface in the third quarter valued at approximately $1,175,000. Finally, AQR Capital Management LLC increased its stake in Interface by 8.9% in the third quarter. AQR Capital Management LLC now owns 482,012 shares of the textile maker’s stock valued at $11,255,000 after purchasing an additional 39,422 shares during the last quarter. Institutional investors own 92.40% 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; and luxury vinyl tile products.
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