$254.11 Million in Sales Expected for Interface, Inc. (TILE) This Quarter
Brokerages predict that Interface, Inc. (NASDAQ:TILE) will announce sales of $254.11 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Interface’s earnings, with the lowest sales estimate coming in at $250.20 million and the highest estimate coming in at $255.65 million. Interface reported sales of $248.21 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.4%. The company is expected to announce its next quarterly earnings report on Wednesday, July 26th.
On average, analysts expect that Interface will report full-year sales of $254.11 million for the current fiscal year, with estimates ranging from $974.90 million to $992.80 million. For the next fiscal year, analysts anticipate that the business will report sales of $1.03 billion per share, with estimates ranging from $1.00 billion to $1.04 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Interface.
Interface (NASDAQ:TILE) last posted its quarterly earnings data on Wednesday, April 26th. The textile maker reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.01. The business had revenue of $221.10 million during the quarter, compared to the consensus estimate of $222.81 million. Interface had a net margin of 5.20% and a return on equity of 19.18%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS.
A number of equities analysts have weighed in on the stock. Nomura assumed coverage on shares of Interface in a research report on Wednesday, April 12th. They set a “buy” rating and a $22.00 target price for the company. Zacks Investment Research lowered shares of Interface from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Stifel Nicolaus increased their target price on shares of Interface from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Finally, BidaskClub lowered shares of Interface from a “buy” rating to a “hold” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $19.00.
Shares of Interface (TILE) opened at 19.50 on Friday. The firm has a 50-day moving average of $19.99 and a 200-day moving average of $18.87. The company has a market cap of $1.22 billion, a P/E ratio of 25.62 and a beta of 1.22. Interface has a 12-month low of $14.56 and a 12-month high of $21.05.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Friday, May 12th were given a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.23%. Interface’s dividend payout ratio (DPR) is currently 31.17%.
In other news, Director Daniel T. Hendrix sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $20.93, for a total value of $104,650.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert Coombs sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $19.75, for a total transaction of $493,750.00. The disclosure for this sale can be found here. Insiders sold 56,999 shares of company stock valued at $1,136,161 over the last 90 days. 1.90% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in TILE. Envestnet Asset Management Inc. raised its stake in shares of Interface by 0.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 17,347 shares of the textile maker’s stock valued at $320,000 after buying an additional 69 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Interface by 1.1% in the first quarter. State of Alaska Department of Revenue now owns 7,090 shares of the textile maker’s stock valued at $135,000 after buying an additional 80 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Interface by 0.3% in the first quarter. Arizona State Retirement System now owns 33,453 shares of the textile maker’s stock valued at $637,000 after buying an additional 100 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Interface by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 19,120 shares of the textile maker’s stock valued at $364,000 after buying an additional 170 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Interface by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 26,200 shares of the textile maker’s stock valued at $499,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 92.84% of the company’s stock.
Interface Company Profile
Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.
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