Interface (NASDAQ:TILE) Announces Quarterly Earnings Results

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

Interface Trading Up 33.0 %

Shares of TILE stock traded up $5.77 during trading hours on Friday, hitting $23.24. 2,097,673 shares of the company were exchanged, compared to its average volume of 448,650. The company has a 50 day simple moving average of $18.55 and a two-hundred day simple moving average of $16.75. The firm has a market cap of $1.35 billion, a P/E ratio of 20.63, a P/E/G ratio of 0.93 and a beta of 1.97. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.45 and a current ratio of 2.76. Interface has a fifty-two week low of $9.04 and a fifty-two week high of $23.46.

Interface Announces Dividend

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

Insider Activity at Interface

In other Interface news, 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 value of $62,319.15. Following the completion of the sale, the director now directly owns 191,147 shares in the company, valued at approximately $3,350,806.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Daniel T. Hendrix sold 3,555 shares of the stock in a transaction on 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 directly owns 191,147 shares in the company, valued at $3,350,806.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Stansfield Nigel sold 17,500 shares of the business's 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 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 disclosure for this sale can be found here. Insiders have sold 79,458 shares of company stock worth $1,339,433 in the last quarter. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. StockNews.com upgraded Interface from a "buy" rating to a "strong-buy" rating in a report on Tuesday, August 6th. Barrington Research lifted their price objective on Interface from $22.00 to $26.00 and gave the stock an "outperform" rating in a research note on Friday.

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.

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