Interface, Inc. (TILE) Expected to Post Earnings of $0.30 Per Share
Wall Street brokerages expect Interface, Inc. (NASDAQ:TILE) to post earnings of $0.30 per share for the current quarter, according to Zacks. Four analysts have issued estimates for Interface’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.31. Interface reported earnings per share of $0.25 in the same quarter last year, which suggests a positive year-over-year growth rate of 20%. The business is scheduled to report its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that Interface will report full year earnings of $1.13 per share for the current financial year, with EPS estimates ranging from $1.12 to $1.15. For the next fiscal year, analysts expect that the company will post earnings of $1.30 per share, with EPS estimates ranging from $1.29 to $1.31. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Interface.
Interface (NASDAQ:TILE) last announced its earnings results on Wednesday, July 26th. The textile maker reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. Interface had a return on equity of 19.66% and a net margin of 5.21%. The firm 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 business’s revenue was up 1.4% compared to the same quarter last year.
A number of analysts have recently weighed in on the company. ValuEngine cut Interface from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and issued a $19.00 price objective on shares of Interface in a research report on Friday, July 28th. BidaskClub raised Interface from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, Zacks Investment Research cut Interface from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Interface currently has an average rating of “Hold” and an average target price of $19.00.
Shares of Interface (TILE) traded up 0.79% during midday trading on Tuesday, hitting $19.20. The stock had a trading volume of 310,159 shares. The stock has a market cap of $1.18 billion, a PE ratio of 24.71 and a beta of 1.20. The stock’s 50-day moving average is $18.96 and its 200-day moving average is $19.17. Interface has a 12 month low of $14.59 and a 12 month high of $21.05.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be given a $0.065 dividend. This is a boost from Interface’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.35%. Interface’s dividend payout ratio (DPR) is presently 33.33%.
In other Interface news, Director Daniel T. Hendrix sold 5,000 shares of Interface stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $20.93, for a total transaction of $104,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert Coombs sold 12,000 shares of Interface stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $20.40, for a total value of $244,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,000 shares of company stock valued at $696,250. 1.90% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Interface by 144,783.3% in the first quarter. BlackRock Inc. now owns 7,815,006 shares of the textile maker’s stock worth $148,876,000 after buying an additional 7,809,612 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Interface by 4.9% in the first quarter. Vanguard Group Inc. now owns 5,788,939 shares of the textile maker’s stock worth $110,280,000 after buying an additional 271,658 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake 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 worth $61,256,000 after buying an additional 157,800 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of Interface by 1.2% in the second quarter. Frontier Capital Management Co. LLC now owns 2,783,501 shares of the textile maker’s stock worth $54,696,000 after buying an additional 33,596 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Interface by 14.8% in the second quarter. FMR LLC now owns 2,452,630 shares of the textile maker’s stock worth $48,194,000 after buying an additional 315,606 shares in the last quarter. 91.04% of the stock is owned by institutional investors.
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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