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

Interface, Inc. (NASDAQ:TILE - Free Report) - Research analysts at Barrington Research issued their Q1 2024 earnings estimates for Interface in a research report issued on Monday, April 15th. Barrington Research analyst A. Paris forecasts that the textile maker will post earnings of $0.14 per share for the quarter. Barrington Research currently has a "Outperform" rating and a $20.00 target price on the stock. The consensus estimate for Interface's current full-year earnings is $1.02 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.

Several other research firms have also commented on TILE. Truist Financial upped their price target on shares of Interface from $10.00 to $14.00 and gave the company a "hold" rating in a report on Wednesday, February 28th. TheStreet raised shares of Interface from a "c" rating to a "b-" rating in a research note on Tuesday, February 27th.

Interface Stock Performance

NASDAQ:TILE traded down $0.25 during mid-day trading on Wednesday, hitting $14.88. The company's stock had a trading volume of 697,977 shares, compared to its average volume of 364,074. Interface has a 1 year low of $6.51 and a 1 year high of $18.47. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.72 and a quick ratio of 1.42. The stock has a market cap of $866.02 million, a price-to-earnings ratio of 19.58 and a beta of 1.98. The business's fifty day moving average is $15.28 and its two-hundred day moving average is $12.42.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The textile maker reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.19. Interface had a net margin of 3.53% and a return on equity of 14.95%. The firm had revenue of $325.10 million for the quarter, compared to analyst estimates of $320.16 million. During the same period in the previous year, the company earned $0.31 earnings per share. The business's quarterly revenue was down 3.1% compared to the same quarter last year.

Interface Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Wednesday, March 27th. Interface's payout ratio is currently 5.26%.

Institutional Investors Weigh In On Interface

Several hedge funds have recently modified their holdings of the company. Captrust Financial Advisors raised its position in shares of Interface by 228.8% during the 1st quarter. Captrust Financial Advisors now owns 2,604 shares of the textile maker's stock worth $35,000 after purchasing an additional 1,812 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Interface by 407.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,899 shares of the textile maker's stock worth $43,000 after purchasing an additional 3,934 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Interface during the 2nd quarter worth about $50,000. Lazard Asset Management LLC acquired a new position in shares of Interface during the 4th quarter worth about $61,000. Finally, GAMMA Investing LLC raised its holdings in Interface by 131.1% in the 1st quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker's stock valued at $66,000 after acquiring an additional 2,237 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.