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

Interface, Inc. (NASDAQ:TILE) – Investment analysts at Barrington Research issued their Q1 2024 EPS estimates for shares of Interface in a report issued on Monday, April 15th. Barrington Research analyst A. Paris anticipates that the textile maker will post earnings of $0.14 per share for the quarter. Barrington Research has a “Outperform” rating and a $20.00 price target 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.

TILE has been the topic of several other reports. TheStreet raised shares of Interface from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Truist Financial boosted their price target on shares of Interface from $10.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th.

Interface Stock Down 1.7 %

TILE traded down $0.25 during trading on Wednesday, hitting $14.88. The company had a trading volume of 697,971 shares, compared to its average volume of 362,607. The company has a market capitalization of $866.02 million, a PE ratio of 19.91 and a beta of 1.98. Interface has a one year low of $6.51 and a one year high of $18.47. The firm’s 50-day moving average price is $15.24 and its 200 day moving average price is $12.41. The company has a quick ratio of 1.42, a current ratio of 2.72 and a debt-to-equity ratio of 0.96.

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

Institutional Investors Weigh In On Interface

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Interface by 1.2% in the 2nd quarter. BlackRock Inc. now owns 9,897,731 shares of the textile maker’s stock valued at $87,001,000 after purchasing an additional 119,605 shares during the last quarter. Vanguard Group Inc. lifted its stake in Interface by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,600,201 shares of the textile maker’s stock valued at $59,335,000 after purchasing an additional 30,836 shares during the last quarter. Pzena Investment Management LLC lifted its stake in Interface by 65.2% in the 3rd quarter. Pzena Investment Management LLC now owns 3,614,372 shares of the textile maker’s stock valued at $35,457,000 after purchasing an additional 1,426,749 shares during the last quarter. Wellington Management Group LLP lifted its stake in Interface by 0.5% in the 4th quarter. Wellington Management Group LLP now owns 2,508,961 shares of the textile maker’s stock valued at $31,663,000 after purchasing an additional 12,847 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Interface by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,486,319 shares of the textile maker’s stock valued at $20,188,000 after purchasing an additional 28,245 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.27%. 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.