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

Interface (NASDAQ:TILE) released its quarterly earnings data on Friday. The textile maker reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.12, RTT News reports. Interface had a net margin of 3.53% and a return on equity of 14.95%. The company had revenue of $289.70 million during the quarter, compared to analysts’ expectations of $284.76 million. During the same period in the previous year, the company earned $0.07 EPS. The firm’s quarterly 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 Trading Up 9.6 %

Shares of TILE stock opened at $17.39 on Friday. The stock has a 50 day simple moving average of $15.85 and a 200-day simple moving average of $12.91. Interface has a 1-year low of $6.51 and a 1-year high of $18.47. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.01 and a beta of 1.99. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.72 and a quick ratio of 1.42.

Interface Announces Dividend

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

Analysts Set New Price Targets

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