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

Interface (NASDAQ:TILE) posted its quarterly earnings results on Friday. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 5.20% and a return on equity of 18.42%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. Interface updated its FY 2024 guidance to EPS.

Interface Trading Up 33.0 %

Shares of NASDAQ:TILE opened at $23.24 on Monday. The firm has a fifty day moving average of $18.64 and a two-hundred day moving average of $16.83. 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 has a 12-month low of $9.04 and a 12-month 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.

Interface Dividend Announcement

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

Analyst Upgrades and Downgrades

TILE has been the topic of several recent 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 at Interface

In other Interface news, VP Stansfield Nigel sold 17,500 shares of Interface 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 sale, the vice president now owns 164,355 shares of the company’s stock, valued at $2,701,996.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Interface news, VP Stansfield Nigel sold 17,500 shares of Interface 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 sale, the vice president now owns 164,355 shares of the company’s stock, valued at $2,701,996.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel T. Hendrix sold 3,555 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total transaction of $62,319.15. Following the transaction, the director now owns 191,147 shares in the company, valued at $3,350,806.91. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,055 shares of company stock valued at $1,285,019 in the last quarter. Company insiders own 2.60% of the company’s stock.

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.