Interface, Inc. (NASDAQ:TILE) Expected to Post Earnings of $0.05 Per Share

Wall Street analysts predict that Interface, Inc. (NASDAQ:TILE) will report $0.05 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Interface’s earnings, with the highest EPS estimate coming in at $0.06 and the lowest estimate coming in at $0.04. Interface reported earnings per share of $0.51 in the same quarter last year, which suggests a negative year-over-year growth rate of 90.2%. The company is expected to announce its next quarterly earnings report on Thursday, July 23rd.

According to Zacks, analysts expect that Interface will report full-year earnings of $0.83 per share for the current year, with EPS estimates ranging from $0.79 to $0.85. For the next financial year, analysts expect that the company will post earnings of $1.34 per share, with EPS estimates ranging from $1.18 to $1.51. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Interface.

Interface (NASDAQ:TILE) last released its earnings results on Friday, May 8th. The textile maker reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.12. The company had revenue of $288.20 million for the quarter, compared to analyst estimates of $298.13 million. Interface had a negative net margin of 2.25% and a positive return on equity of 31.53%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS.

Several brokerages have issued reports on TILE. BidaskClub downgraded shares of Interface from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Nomura Instinet raised their price objective on shares of Interface from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Zacks Investment Research upgraded shares of Interface from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Nomura lifted their target price on shares of Interface from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Nomura Securities lifted their target price on shares of Interface from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $15.17.

Shares of NASDAQ TILE traded up $0.10 during mid-day trading on Friday, reaching $7.59. The company had a trading volume of 476,371 shares, compared to its average volume of 642,172. Interface has a 52-week low of $5.06 and a 52-week high of $17.67. The company has a current ratio of 2.32, a quick ratio of 1.14 and a debt-to-equity ratio of 2.87. The stock has a market cap of $443.84 million, a P/E ratio of -14.60 and a beta of 1.84. The firm has a 50 day simple moving average of $8.41 and a two-hundred day simple moving average of $11.79.

The company also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, June 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.53%. Interface’s dividend payout ratio (DPR) is presently 2.52%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Aigen Investment Management LP purchased a new stake in shares of Interface during the first quarter worth about $35,000. PNC Financial Services Group Inc. grew its holdings in shares of Interface by 158.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,370 shares of the textile maker’s stock worth $39,000 after buying an additional 1,453 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of Interface during the first quarter worth about $59,000. Advisor Group Inc. grew its holdings in shares of Interface by 18.8% during the fourth quarter. Advisor Group Inc. now owns 3,961 shares of the textile maker’s stock worth $65,000 after buying an additional 626 shares in the last quarter. Finally, NumerixS Investment Technologies Inc grew its holdings in shares of Interface by 110.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 4,200 shares of the textile maker’s stock worth $70,000 after buying an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 89.37% of the company’s stock.

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; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.

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