Interface (NASDAQ:TILE) Releases Quarterly Earnings Results

Interface (NASDAQ:TILE) posted its quarterly earnings data on Friday. The textile maker reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12, RTT News reports. The business had revenue of $289.70 million for the quarter, compared to analyst estimates of $284.76 million. Interface had a return on equity of 16.94% and a net margin of 4.73%. During the same quarter in the prior year, the company earned $0.07 earnings per share. The company’s revenue was down 2.1% on a year-over-year basis. Interface updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Interface Stock Performance

Shares of TILE opened at $17.39 on Monday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.10 and a beta of 1.99. Interface has a 52-week low of $6.51 and a 52-week high of $18.47. The company has a quick ratio of 1.30, a current ratio of 2.72 and a debt-to-equity ratio of 0.89. The stock has a 50 day moving average price of $15.85 and a 200 day moving average price of $12.96.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. Interface’s dividend payout ratio (DPR) is presently 3.96%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TheStreet upgraded Interface from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. Truist Financial boosted their price target on shares of Interface from $10.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, February 28th. Finally, Barrington Research raised their price objective on shares of Interface from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday.

Interface Company Profile

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.