$254.58 Million in Sales Expected for Interface, Inc. (TILE) This Quarter
Analysts expect Interface, Inc. (NASDAQ:TILE) to post sales of $254.58 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Interface’s earnings. The lowest sales estimate is $251.00 million and the highest is $256.20 million. Interface reported sales of $248.35 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.5%. The business is scheduled to issue its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Interface will report full year sales of $254.58 million for the current year, with estimates ranging from $966.80 million to $979.90 million. For the next year, analysts anticipate that the business will report sales of $1.02 billion per share, with estimates ranging from $995.80 million to $1.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Interface.
Interface (NASDAQ:TILE) last announced its quarterly earnings data on Wednesday, July 26th. The textile maker reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Interface had a net margin of 5.21% and a return on equity of 19.66%. The business had revenue of $251.70 million during the quarter, compared to analyst estimates of $254.94 million. During the same period last year, the firm posted $0.32 EPS. The company’s revenue was up 1.4% on a year-over-year basis.
TILE has been the subject of a number of analyst reports. BidaskClub downgraded Interface from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. ValuEngine upgraded Interface from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $19.00 price objective on shares of Interface in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $19.00.
Shares of Interface (TILE) traded down 1.71% during midday trading on Monday, reaching $20.15. 212,587 shares of the company’s stock were exchanged. The company’s 50-day moving average is $19.04 and its 200-day moving average is $19.31. Interface has a one year low of $14.59 and a one year high of $21.05. The stock has a market cap of $1.24 billion, a P/E ratio of 25.93 and a beta of 1.19.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were given a $0.065 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This is a boost from Interface’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.27%. Interface’s payout ratio is 33.33%.
In other news, Director Daniel T. Hendrix sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $19.11, for a total value of $114,660.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stansfield Nigel sold 8,450 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $19.26, for a total value of $162,747.00. The disclosure for this sale can be found here. Insiders sold 20,450 shares of company stock valued at $391,107 over the last 90 days. Company insiders own 1.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. WINTON GROUP Ltd increased its position in shares of Interface by 55.9% in the second quarter. WINTON GROUP Ltd now owns 43,195 shares of the textile maker’s stock valued at $849,000 after buying an additional 15,495 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Interface in the second quarter valued at approximately $224,000. Westwood Holdings Group Inc. increased its position in shares of Interface by 5.3% in the second quarter. Westwood Holdings Group Inc. now owns 3,120,601 shares of the textile maker’s stock valued at $61,256,000 after buying an additional 157,800 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Interface in the second quarter valued at approximately $249,000. Finally, State Street Corp increased its position in shares of Interface by 3.1% in the second quarter. State Street Corp now owns 1,580,198 shares of the textile maker’s stock valued at $31,057,000 after buying an additional 46,986 shares in the last quarter. Institutional investors and hedge funds own 93.36% 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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