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

Interface (NASDAQ:TILE) released its earnings results on Friday. The textile maker reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.12, RTT News reports. The firm had revenue of $289.70 million for the quarter, compared to the consensus estimate of $284.76 million. Interface had a return on equity of 14.95% and a net margin of 3.53%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 earnings per share. Interface updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Interface Trading Up 9.6 %

Shares of TILE opened at $17.39 on Friday. Interface has a 12 month low of $6.51 and a 12 month high of $18.47. The stock’s 50-day moving average is $15.85 and its two-hundred day moving average is $12.91. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.72 and a quick ratio of 1.42. The stock has a market cap of $1.01 billion, a PE ratio of 22.88, a P/E/G ratio of 1.01 and a beta of 1.99.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. Interface’s payout ratio is 5.26%.

Analyst Upgrades and Downgrades

TILE has been the subject of several research analyst reports. TheStreet raised shares of Interface from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Truist Financial increased their target price on Interface from $10.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Finally, Barrington Research boosted their price target on Interface from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday.

About Interface

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.