Interface (NASDAQ:TILE) Releases Earnings Results, Beats Estimates By $0.14 EPS

Interface (NASDAQ:TILE) issued its earnings results on Friday. The textile maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.14, RTT News reports. Interface had a net margin of 5.20% and a return on equity of 18.42%. The firm had revenue of $344.30 million during the quarter, compared to analyst estimates of $336.39 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. Interface’s revenue for the quarter was up 10.7% on a year-over-year basis. Interface updated its FY 2024 guidance to EPS.

Interface Price Performance

TILE stock opened at $23.24 on Friday. Interface has a 52 week low of $9.04 and a 52 week high of $23.46. The company has a quick ratio of 1.45, a current ratio of 2.76 and a debt-to-equity ratio of 0.84. The company has a fifty day simple moving average of $18.64 and a two-hundred day simple moving average of $16.81. The firm has a market capitalization of $1.35 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 0.91 and a beta of 1.97.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.01 per share. The ex-dividend date was Friday, August 30th. This represents a $0.04 annualized dividend and a yield of 0.17%. Interface’s dividend payout ratio (DPR) is currently 3.57%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TILE shares. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th. Barrington Research upped their target price on shares of Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday.

Insider Buying and Selling at Interface

In other Interface news, VP Stansfield Nigel sold 17,500 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $16.44, for a total transaction of $287,700.00. Following the completion of the transaction, the vice president now owns 164,355 shares in the company, valued at $2,701,996.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Stansfield Nigel sold 17,500 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $16.44, for a total value of $287,700.00. Following the sale, the vice president now owns 164,355 shares of the company’s stock, valued at approximately $2,701,996.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel T. Hendrix sold 3,403 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $15.99, for a total transaction of $54,413.97. Following the completion of the sale, the director now directly owns 200,147 shares in the company, valued at approximately $3,200,350.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,458 shares of company stock worth $1,339,433 over the last 90 days. 2.60% of the stock is owned by insiders.

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.