SunTrust Banks Equities Analysts Boost Earnings Estimates for Interface, Inc. (TILE)

Interface, Inc. (NASDAQ:TILE) – Equities researchers at SunTrust Banks increased their Q2 2019 earnings per share (EPS) estimates for Interface in a report released on Thursday, February 21st. SunTrust Banks analyst K. Hughes now anticipates that the textile maker will earn $0.56 per share for the quarter, up from their previous estimate of $0.51. SunTrust Banks also issued estimates for Interface’s Q3 2019 earnings at $0.56 EPS and FY2019 earnings at $1.65 EPS.

A number of other brokerages have also issued reports on TILE. Zacks Investment Research lowered Interface from a “hold” rating to a “sell” rating in a research note on Saturday. BidaskClub raised Interface from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 18th. Nomura decreased their price target on Interface from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, January 7th. Finally, ValuEngine lowered Interface from a “sell” rating to a “strong sell” rating in a research note on Monday, October 29th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Interface currently has an average rating of “Hold” and a consensus price target of $25.00.

Shares of NASDAQ:TILE opened at $18.63 on Monday. The company has a current ratio of 2.50, a quick ratio of 1.35 and a debt-to-equity ratio of 1.66. Interface has a 12-month low of $13.45 and a 12-month high of $26.10. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 12.50 and a beta of 1.50.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Tuesday, February 19th. The textile maker reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Interface had a return on equity of 25.66% and a net margin of 4.26%. The firm had revenue of $337.06 million for the quarter, compared to analyst estimates of $344.65 million. During the same period last year, the company earned $0.32 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis.

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc raised its holdings in shares of Interface by 2.0% in the 3rd quarter. Vanguard Group Inc now owns 5,981,953 shares of the textile maker’s stock worth $139,679,000 after purchasing an additional 115,036 shares during the period. Aperio Group LLC raised its holdings in shares of Interface by 14.5% in the 3rd quarter. Aperio Group LLC now owns 82,199 shares of the textile maker’s stock worth $1,919,000 after purchasing an additional 10,433 shares during the period. Legal & General Group Plc raised its holdings in shares of Interface by 7.2% in the 3rd quarter. Legal & General Group Plc now owns 139,152 shares of the textile maker’s stock worth $3,244,000 after purchasing an additional 9,301 shares during the period. Ceredex Value Advisors LLC raised its holdings in shares of Interface by 1,346.9% in the 4th quarter. Ceredex Value Advisors LLC now owns 644,746 shares of the textile maker’s stock worth $9,188,000 after purchasing an additional 600,184 shares during the period. Finally, LSV Asset Management purchased a new position in shares of Interface in the 3rd quarter worth about $1,793,000. Institutional investors own 92.43% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be issued a $0.065 dividend. The ex-dividend date is Thursday, March 7th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.40%. Interface’s dividend payout ratio (DPR) is 17.45%.

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.