SunTrust Banks Weighs in on Interface, Inc.’s FY2018 Earnings (TILE)

Interface, Inc. (NASDAQ:TILE) – SunTrust Banks lowered their FY2018 earnings per share estimates for Interface in a research report issued on Friday, October 5th. SunTrust Banks analyst K. Hughes now expects that the textile maker will post earnings per share of $1.46 for the year, down from their prior estimate of $1.48. SunTrust Banks also issued estimates for Interface’s Q4 2018 earnings at $0.39 EPS.

Several other research analysts have also commented on the stock. BidaskClub raised shares of Interface from a “hold” rating to a “buy” rating in a research note on Saturday, July 7th. Zacks Investment Research downgraded shares of Interface from a “buy” rating to a “hold” rating in a research note on Thursday, June 28th. Finally, Longbow Research raised shares of Interface from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Tuesday, August 14th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Interface has an average rating of “Buy” and an average price target of $26.75.

Shares of NASDAQ TILE opened at $22.15 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.57 and a quick ratio of 1.46. Interface has a 12 month low of $21.20 and a 12 month high of $26.25. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 18.77 and a beta of 1.12.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Wednesday, July 25th. The textile maker reported $0.42 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. Interface had a net margin of 5.67% and a return on equity of 23.63%. The business had revenue of $283.60 million during the quarter, compared to analyst estimates of $274.94 million. During the same period in the prior year, the business earned $0.33 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis.

Large investors have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Interface by 7.2% in the second quarter. BlackRock Inc. now owns 9,237,013 shares of the textile maker’s stock worth $211,990,000 after purchasing an additional 619,945 shares in the last quarter. Ariel Investments LLC raised its holdings in Interface by 9.9% in the second quarter. Ariel Investments LLC now owns 987,315 shares of the textile maker’s stock worth $22,659,000 after purchasing an additional 89,241 shares in the last quarter. Northern Trust Corp raised its holdings in Interface by 6.1% in the second quarter. Northern Trust Corp now owns 834,021 shares of the textile maker’s stock worth $19,140,000 after purchasing an additional 47,946 shares in the last quarter. Millennium Management LLC raised its holdings in Interface by 7.2% in the second quarter. Millennium Management LLC now owns 662,089 shares of the textile maker’s stock worth $15,195,000 after purchasing an additional 44,402 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Interface by 4.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 544,961 shares of the textile maker’s stock worth $12,507,000 after acquiring an additional 23,599 shares in the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

About Interface

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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Earnings History and Estimates for Interface (NASDAQ:TILE)

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