Interface, Inc. (NASDAQ:TILE) – Equities researchers at Seaport Global Securities boosted their Q3 2018 earnings per share (EPS) estimates for Interface in a report issued on Monday, August 27th. Seaport Global Securities analyst M. Mccall now forecasts that the textile maker will post earnings per share of $0.40 for the quarter, up from their previous forecast of $0.39. Seaport Global Securities also issued estimates for Interface’s FY2018 earnings at $1.47 EPS.
Other research analysts have also issued reports about the company. BidaskClub lowered Interface from a “hold” rating to a “sell” rating in a research report on Monday, May 28th. ValuEngine upgraded Interface from a “hold” rating to a “buy” rating in a research report on Thursday, May 3rd. Longbow Research upgraded Interface from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Tuesday, August 14th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Interface from a “buy” rating to a “hold” rating in a research report on Thursday, June 28th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $26.75.
TILE opened at $23.50 on Thursday. Interface has a 52 week low of $18.65 and a 52 week high of $26.25. The firm has a market cap of $1.39 billion, a PE ratio of 19.92 and a beta of 1.17. The company has a quick ratio of 1.46, a current ratio of 2.57 and a debt-to-equity ratio of 0.67.
Interface (NASDAQ:TILE) last released its quarterly earnings results on Wednesday, July 25th. The textile maker reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Interface had a return on equity of 23.63% and a net margin of 5.67%. The business had revenue of $283.60 million during the quarter, compared to analyst estimates of $274.94 million. During the same period last year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TILE. Cigna Investments Inc. New boosted its holdings in Interface by 216.4% in the first quarter. Cigna Investments Inc. New now owns 58,659 shares of the textile maker’s stock valued at $1,478,000 after purchasing an additional 40,118 shares during the period. RE Advisers Corp boosted its holdings in Interface by 160.7% in the second quarter. RE Advisers Corp now owns 81,119 shares of the textile maker’s stock valued at $1,862,000 after purchasing an additional 50,000 shares during the period. Wells Fargo & Company MN boosted its holdings in Interface by 14.5% in the first quarter. Wells Fargo & Company MN now owns 920,947 shares of the textile maker’s stock valued at $23,209,000 after purchasing an additional 116,681 shares during the period. Point72 Asset Management L.P. purchased a new position in Interface in the first quarter valued at $718,000. Finally, Nuveen Asset Management LLC boosted its holdings in Interface by 6.0% in the first quarter. Nuveen Asset Management LLC now owns 147,037 shares of the textile maker’s stock valued at $3,705,000 after purchasing an additional 8,324 shares during the period. Institutional investors and hedge funds own 91.86% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Friday, August 10th were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Thursday, August 9th. This represents a $0.26 annualized dividend and a dividend yield of 1.11%. Interface’s dividend payout ratio is currently 22.03%.
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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