$282.05 million in sales expected for Interface, Inc. (NASDAQ: TILE) this quarter

Wall Street brokers expect Interface, Inc. (NASDAQ:TILE – Get Rating) to report sales of $282.05 million for the current quarter, reports Zacks Investment Research. Two analysts provided earnings estimates for Interface, with the lowest sales estimate at $281.10 million and the highest estimate at $283.00 million. Interface recorded sales of $253.26 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.4%. The company is expected to announce its next quarterly results before the market opens on Monday, January 1.

On average, analysts expect Interface to report annual sales of $1.30 billion in the current fiscal year, with estimates ranging from $1.29 billion to $1.30 billion. For the next fiscal year, analysts expect the company to record sales of $1.35 billion, with estimates ranging from $1.33 billion to $1.38 billion. Zacks sales calculations are an average average based on a survey of research companies that provide coverage for Interface.

Interface (NASDAQ:TILE – Get Rating) last released its quarterly earnings data on Tuesday, March 1. The textile maker reported EPS of $0.47 for the quarter, beating the Zacks consensus estimate of $0.32 by $0.15. The company posted revenue of $339.60 million for the quarter, compared to $324.67 million expected by analysts. Interface had a return on equity of 21.39% and a net margin of 4.60%. The company’s quarterly revenue increased 22.6% year over year. In the same quarter a year earlier, the company posted earnings per share of $0.27.

A number of analysts have recently released reports on TILE shares. StockNews.com began covering Interface in a research report on Thursday, March 31. They have set a “Strong Buy” rating on the stock. Zacks Investment Research downgraded Interface from a “buy” rating to a “hold” rating in a research report on Saturday, March 5. Finally, Raymond James lowered his price target on Interface from $19.00 to $17.00 and set an “outperform” rating on the stock in a Wednesday, March 2 research report.

Institutional investors have recently changed their positions in the stock. Schroder Investment Management Group increased its stake in Interface by 22.9% in the third quarter. Schroder Investment Management Group now owns 1,182,342 shares of the textile maker valued at $17,912,000 after buying an additional 220,595 shares in the last quarter. Shelton Capital Management increased its stake in Interface by 30.3% in the third quarter. Shelton Capital Management now owns 103,184 shares of the textile maker valued at $1,563,000 after acquiring an additional 24,000 shares during the period. Strs Ohio increased its stake in Interface by 24.8% in the third quarter. Strs Ohio now owns 34,200 shares of the textile maker valued at $518,000 after acquiring an additional 6,800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Interface in the third quarter worth approximately $273,000. Finally, Achmea Investment Management BV acquired a new position in Interface in the third quarter worth approximately $1,251,000. 95.57% of the shares are held by hedge funds and other institutional investors.

NASDAQ TILE shares were down $0.26 midday Wednesday, hitting $12.59. 104,369 shares of the company were traded, against an average volume of 202,732. Interface has a 52-week low of $11.89 and a 52-week high of $18.03. The stock has a market capitalization of $746.37 million, a PE ratio of 13.35 and a beta of 1.88. The company has a debt ratio of 1.38, a quick ratio of 1.17 and a current ratio of 2.19. The company’s fifty-day moving average price is $13.39 and its two-hundred-day moving average price is $14.55.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 15. Investors of record on Friday, April 1 received a dividend of $0.01. This represents an annualized dividend of $0.04 and a yield of 0.32%. The ex-dividend date was Thursday, March 31. Interface’s dividend payout ratio is currently 4.26%.

Company Profile (Get an assessment)

Interface, Inc, a modular flooring company, designs, produces and sells modular carpet products primarily in America, Europe and Asia-Pacific. The company offers modular carpets under the Interface and FLOR brands; carpet tiles under the name GlasBacRE for use in commercial interiors, including offices, healthcare facilities, airports, educational and other facilities, hospitality and retail spaces, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.

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Earnings history and estimates for the interface (NASDAQ: TILE)

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