Interface, Inc. Forecasted to Post Q1 2024 Earnings of $0.14 Per Share (NASDAQ:TILE)

Interface, Inc. (NASDAQ:TILE) – Investment analysts at Barrington Research issued their Q1 2024 earnings per share estimates for shares of Interface in a note issued to investors on Monday, April 15th. Barrington Research analyst A. Paris forecasts that the textile maker will earn $0.14 per share for the quarter. Barrington Research has a “Outperform” rating and a $20.00 price objective on the stock. The consensus estimate for Interface’s current full-year earnings is $1.05 per share. Barrington Research also issued estimates for Interface’s Q2 2024 earnings at $0.32 EPS, Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.32 EPS, FY2024 earnings at $1.08 EPS and FY2025 earnings at $1.30 EPS.

Interface (NASDAQ:TILE) last issued its earnings results on Tuesday, February 27th. The textile maker reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.19. The business had revenue of $325.10 million for the quarter, compared to the consensus estimate of $320.16 million. Interface had a net margin of 3.53% and a return on equity of 14.95%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS.

Other analysts have also issued reports about the stock. Truist Financial upped their price objective on shares of Interface from $10.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. TheStreet upgraded Interface from a “c” rating to a “b-” rating in a report on Tuesday, February 27th.

Interface Trading Up 0.3 %

Shares of NASDAQ TILE opened at $14.93 on Wednesday. Interface has a twelve month low of $6.51 and a twelve month high of $18.47. The company has a quick ratio of 1.42, a current ratio of 2.72 and a debt-to-equity ratio of 0.96. The business has a fifty day simple moving average of $15.32 and a two-hundred day simple moving average of $12.44. The firm has a market cap of $868.93 million, a PE ratio of 19.64, a price-to-earnings-growth ratio of 0.96 and a beta of 1.98.

Hedge Funds Weigh In On Interface

Several hedge funds have recently made changes to their positions in the company. LPL Financial LLC raised its stake in shares of Interface by 2.9% in the fourth quarter. LPL Financial LLC now owns 31,475 shares of the textile maker’s stock worth $311,000 after purchasing an additional 892 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Interface by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,527 shares of the textile maker’s stock valued at $380,000 after acquiring an additional 942 shares during the last quarter. First Republic Investment Management Inc. increased its stake in shares of Interface by 7.8% in the fourth quarter. First Republic Investment Management Inc. now owns 13,667 shares of the textile maker’s stock worth $135,000 after acquiring an additional 994 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of Interface by 5.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 19,077 shares of the textile maker’s stock worth $167,000 after acquiring an additional 1,031 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Interface by 0.8% during the fourth quarter. Legal & General Group Plc now owns 145,065 shares of the textile maker’s stock worth $1,432,000 after purchasing an additional 1,084 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Interface Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Wednesday, March 27th. Interface’s dividend payout ratio (DPR) is presently 5.26%.

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.