Interface, Inc. (NASDAQ:TILE) Expected to Post Quarterly Sales of $357.35 Million


Stock analysts expect Interface, Inc. (NASDAQ:TILE – Get Rating) to post sales of $357.35 million for the current quarter, according to Zacks Investment Research. Two analysts provided earnings estimates for Interface. The lowest sales estimate is $356.70 million and the highest is $358.00 million. Interface recorded sales of $294.79 million in the same quarter last year, suggesting a positive year-over-year growth rate of 21.2%. The company is expected to announce its next quarterly earnings report on Monday, January 1.

According to Zacks, analysts expect Interface to report annual sales of $1.34 billion in the current fiscal year, with estimates ranging from $1.34 billion to $1.35 billion. For the next fiscal year, analysts expect the company to post sales of $1.41 billion, with estimates ranging from $1.37 billion to $1.44 billion. Zacks Investment Research sales averages are an average based on a survey of research analysts who provide coverage for Interface.

Interface (NASDAQ:TILE – Get Rating) last released its quarterly results on Friday, May 6. The textile maker reported earnings per share of $0.28 for the quarter, beating consensus analyst estimates of $0.16 by $0.12. Interface had a net margin of 4.99% and a return on equity of 22.58%. The company posted revenue of $288.00 million in the quarter, versus a consensus estimate of $282.97 million. During the same period of the previous year, the company achieved EPS of $0.17. The company’s revenue increased 13.7% year over year.

A number of stock analysts have recently commented on the stock. StockNews.com took over stock coverage from Interface in a Thursday, March 31 report. They established a “Strong Buy” rating for the company. Zacks Investment Research moved Interface shares from a “hold” rating to a “buy” rating and set a price target of $14.00 for the company in a Wednesday, May 11 report. Finally, Raymond James lowered his price target on Interface shares from $19.00 to $17.00 and set an “outperform” rating for the company in a Wednesday, March 2 research report.

NASDAQ:TILE opened at $13.55 on Wednesday. The company has a 50-day moving average of $13.21 and a 200-day moving average of $14.16. The company has a market cap of $803.28 million, a price-earnings ratio of 13.03, and a beta of 1.79. Interface has a 52-week low of $12.22 and a 52-week high of $18.03. The company has a debt ratio of 1.38, a quick ratio of 1.08 and a current ratio of 2.37.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 17. Investors of record on Friday, June 3 will receive a dividend of $0.01 per share. This represents a dividend of $0.04 on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Thursday, June 2. Interface’s dividend payout ratio (DPR) is currently 3.85%.

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in Interface by 2.6% in the 4th quarter. BlackRock Inc. now owns 9,484,692 shares of the textile maker valued at $151,280,000 after acquiring an additional 244,770 shares last quarter. Vanguard Group Inc. increased its position in Interface by 0.4% in Q1. Vanguard Group Inc. now owns 6,379,991 shares of the textile maker valued at $86,577,000 after acquiring an additional 24,264 shares last quarter. Capital World Investors increased its position in Interface by 2.3% in the third quarter. Capital World Investors now owns 4,721,060 shares of the textile maker valued at $71,524,000 after acquiring an additional 104,720 shares last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Interface by 49.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,854,133 shares of the textile maker valued at $61,474,000 after acquiring an additional 1,270,697 shares last quarter. Finally, Frontier Capital Management Co. LLC increased its position in Interface by 1.1% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,721,656 shares of the textile maker valued at $59,360,000 after acquiring 40,099 additional shares last quarter. Hedge funds and other institutional investors own 96.30% of the company’s shares.

About the interface (Get a rating)

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 areas and retail facilities, as well than residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.

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