Interface, Inc. (NASDAQ:TILE) Expected to Post Quarterly Sales of $250.93 Million

Analysts predict that Interface, Inc. (NASDAQ:TILE) will report sales of $250.93 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Interface’s earnings, with the lowest sales estimate coming in at $245.00 million and the highest estimate coming in at $257.50 million. Interface posted sales of $357.51 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 29.8%. The company is expected to issue its next quarterly earnings report on Thursday, July 23rd.

According to Zacks, analysts expect that Interface will report full-year sales of $1.10 billion for the current year, with estimates ranging from $1.10 billion to $1.11 billion. For the next financial year, analysts forecast that the company will report sales of $1.23 billion, with estimates ranging from $1.22 billion to $1.25 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Interface.

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

TILE has been the subject of a number of research reports. BidaskClub lowered Interface from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Nomura Instinet lifted their price objective on Interface from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. SunTrust Banks lowered their price objective on Interface from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Nomura Securities raised their target price on Interface from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, Nomura raised their target price on Interface from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.17.

Several large investors have recently added to or reduced their stakes in the company. Aigen Investment Management LP bought a new stake in Interface in the 1st quarter valued at approximately $35,000. PNC Financial Services Group Inc. lifted its position in shares of Interface by 158.5% during the 4th 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 during the last quarter. Advisor Group Holdings Inc. bought a new stake in shares of Interface during the 1st quarter worth $59,000. Advisor Group Inc. lifted its position in shares of Interface by 18.8% during the 4th quarter. Advisor Group Inc. now owns 3,961 shares of the textile maker’s stock worth $65,000 after buying an additional 626 shares during the last quarter. Finally, NumerixS Investment Technologies Inc lifted its position in shares of Interface by 110.0% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 89.37% of the company’s stock.

TILE stock traded up $0.10 during midday trading on Monday, reaching $7.59. The stock had a trading volume of 476,371 shares, compared to its average volume of 642,172. The business has a fifty day simple moving average of $8.41 and a two-hundred day simple moving average of $11.79. The company has a quick ratio of 1.14, a current ratio of 2.32 and a debt-to-equity ratio of 2.87. The firm has a market cap of $443.84 million, a price-to-earnings ratio of -14.60 and a beta of 1.84. Interface has a twelve month low of $5.06 and a twelve month high of $17.67.

The firm also recently disclosed 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. This represents a $0.04 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Thursday, June 4th. Interface’s dividend payout ratio (DPR) is presently 2.52%.

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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