Wall Street analysts expect Interface, Inc. (NASDAQ:TILE) to announce $316.38 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Interface’s earnings, with the highest sales estimate coming in at $322.10 million and the lowest estimate coming in at $310.50 million. Interface posted sales of $257.43 million during the same quarter last year, which suggests a positive year-over-year growth rate of 22.9%. The company is scheduled to report its next earnings results after the market closes on Wednesday, October 24th.
According to Zacks, analysts expect that Interface will report full-year sales of $1.18 billion for the current financial year, with estimates ranging from $1.17 billion to $1.19 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.40 billion, with estimates ranging from $1.40 billion to $1.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Interface.
Interface (NASDAQ:TILE) last issued its quarterly earnings results on Wednesday, July 25th. The textile maker reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. Interface had a net margin of 5.67% and a return on equity of 23.63%. The company had revenue of $283.60 million during the quarter, compared to the consensus estimate of $274.94 million. During the same quarter in the prior year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis.
A number of analysts have recently weighed in on TILE shares. ValuEngine raised shares of Interface from a “sell” rating to a “hold” rating in a report on Thursday. BidaskClub downgraded shares of Interface from a “buy” rating to a “hold” rating in a report on Saturday, July 21st. 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 report on Tuesday, August 14th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Interface from a “hold” rating to a “strong-buy” rating and set a $26.00 price target for the company in a report on Friday, August 10th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Interface currently has a consensus rating of “Buy” and a consensus target price of $26.75.
Shares of Interface stock traded up $0.14 on Friday, reaching $19.72. 363,061 shares of the stock were exchanged, compared to its average volume of 376,983. Interface has a one year low of $18.74 and a one year high of $26.25. The company has a current ratio of 2.57, a quick ratio of 1.46 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.16 billion, a PE ratio of 16.71 and a beta of 1.12.
Institutional investors have recently modified their holdings of the company. NumerixS Investment Technologies Inc increased its position in Interface by 122.6% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 6,900 shares of the textile maker’s stock worth $158,000 after purchasing an additional 3,800 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Interface during the 2nd quarter worth approximately $170,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Interface during the 2nd quarter worth approximately $289,000. Profund Advisors LLC increased its position in Interface by 27.9% during the 1st quarter. Profund Advisors LLC now owns 11,896 shares of the textile maker’s stock worth $300,000 after purchasing an additional 2,592 shares in the last quarter. Finally, GAM Holding AG acquired a new position in Interface during the 2nd quarter worth approximately $340,000. 92.36% of the stock is owned by institutional investors.
Interface Company Profile
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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