Interface (NASDAQ:TILE) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Interface (NASDAQ:TILE) released its quarterly earnings results on Friday. The textile maker reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.12, RTT News reports. Interface had a return on equity of 16.94% and a net margin of 4.73%. The business had revenue of $289.70 million for the quarter, compared to the consensus estimate of $284.76 million. During the same quarter last year, the business posted $0.07 earnings per share. The company’s revenue for the quarter 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 stock opened at $17.39 on Monday. The company has a market capitalization of $1.01 billion, a P/E ratio of 17.22, a PEG ratio of 1.10 and a beta of 1.99. Interface has a fifty-two week low of $6.51 and a fifty-two week high of $18.47. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.30 and a current ratio of 2.72. The stock has a 50 day moving average price of $15.85 and a two-hundred day moving average price of $12.96.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. Interface’s dividend payout ratio (DPR) is currently 3.96%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Truist Financial raised their price objective on Interface from $10.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. TheStreet upgraded shares of Interface from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Finally, Barrington Research increased their target price 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.