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

Interface (NASDAQ:TILE) announced its quarterly earnings data 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. The firm had revenue of $344.30 million for the quarter, compared to analyst estimates of $336.39 million. Interface had a return on equity of 18.42% and a net margin of 5.20%. Interface’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. Interface updated its FY 2024 guidance to EPS.

Interface Trading Up 33.0 %

Shares of TILE opened at $23.24 on Friday. Interface has a 12 month low of $9.04 and a 12 month high of $23.46. The stock’s 50-day moving average is $18.64 and its two-hundred day moving average is $16.80. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.76 and a quick ratio of 1.45. The stock has a market cap of $1.35 billion, a PE ratio of 20.75, a P/E/G ratio of 0.93 and a beta of 1.97.

Interface Announces Dividend

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

Wall Street Analyst Weigh In

TILE has been the subject of a number of research reports. 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 raised their price objective on shares of Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday.

Insider Buying and Selling

In related news, Director Daniel T. Hendrix sold 3,555 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $17.53, for a total value of $62,319.15. Following the transaction, the director now owns 191,147 shares in the company, valued at approximately $3,350,806.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Interface news, Director Daniel T. Hendrix sold 3,555 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $17.53, for a total transaction of $62,319.15. Following the sale, the director now owns 191,147 shares in the company, valued at $3,350,806.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel T. Hendrix sold 3,403 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $15.99, for a total transaction of $54,413.97. Following the completion of the transaction, the director now directly owns 200,147 shares in the company, valued at $3,200,350.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,458 shares of company stock valued at $1,339,433. Corporate insiders own 2.60% of the company’s stock.

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.