$316.38 Million in Sales Expected for Interface, Inc. (TILE) This Quarter

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Analysts expect Interface, Inc. (NASDAQ:TILE) to report sales of $316.38 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Interface’s earnings. The highest sales estimate is $322.10 million and the lowest is $310.50 million. Interface posted sales of $257.43 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 22.9%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, October 24th.

On average, analysts expect that Interface will report full year sales of $1.18 billion for the current year, with estimates ranging from $1.17 billion to $1.19 billion. For the next fiscal year, analysts anticipate 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 an average based on a survey of sell-side analysts that that provide coverage for Interface.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Wednesday, July 25th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $283.60 million during the quarter, compared to the consensus estimate of $274.94 million. Interface had a return on equity of 23.63% and a net margin of 5.67%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 EPS.

Several research analysts recently weighed in on TILE shares. Zacks Investment Research raised shares of Interface from a “hold” rating to a “strong-buy” rating and set a $26.00 target price for the company in a research note on Friday, August 10th. Longbow Research raised shares of Interface from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday, August 14th. They noted that the move was a valuation call. BidaskClub downgraded shares of Interface from a “hold” rating to a “sell” rating in a research note on Thursday, September 20th. Finally, ValuEngine downgraded shares of Interface from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $26.75.

A number of hedge funds have recently made changes to their positions in TILE. NumerixS Investment Technologies Inc raised its stake in Interface by 122.6% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 6,900 shares of the textile maker’s stock valued at $158,000 after purchasing an additional 3,800 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Interface in the 2nd quarter valued at about $170,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Interface in the 2nd quarter valued at about $289,000. Profund Advisors LLC raised its stake in Interface by 27.9% in the 1st quarter. Profund Advisors LLC now owns 11,896 shares of the textile maker’s stock valued at $300,000 after purchasing an additional 2,592 shares during the last quarter. Finally, GAM Holding AG acquired a new position in Interface in the 2nd quarter valued at about $340,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Shares of TILE stock opened at $19.83 on Friday. Interface has a twelve month low of $18.74 and a twelve month high of $26.25. The stock has a market capitalization of $1.39 billion, a P/E ratio of 16.81 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.57 and a quick ratio of 1.46.

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; and luxury vinyl tile products.

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