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

Interface, Inc. (NASDAQ:TILE) – Equities researchers at Barrington Research issued their Q1 2024 EPS estimates for Interface in a research note 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.

Interface (NASDAQ:TILE) last announced its earnings results on Tuesday, February 27th. The textile maker reported $0.41 earnings per share for the quarter, topping 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 business had revenue of $325.10 million during the quarter, compared to the consensus estimate of $320.16 million. During the same quarter last year, the firm earned $0.31 earnings per share. Interface’s quarterly revenue was down 3.1% on a year-over-year basis.

A number of other equities analysts also recently weighed in on TILE. TheStreet raised shares of Interface from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. Truist Financial lifted their target price 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.

Interface Trading Down 1.7 %

NASDAQ TILE traded down $0.25 during mid-day trading on Wednesday, reaching $14.88. 697,971 shares of the stock were exchanged, compared to its average volume of 362,607. Interface has a one year low of $6.51 and a one year high of $18.47. The stock has a 50 day simple moving average of $15.24 and a 200-day simple moving average of $12.41. The stock has a market cap of $866.02 million, a P/E ratio of 19.91 and a beta of 1.98. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.72 and a quick ratio of 1.42.

Interface Dividend Announcement

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

Institutional Investors Weigh In On Interface

Several hedge funds and other institutional investors have recently bought and sold shares of TILE. Captrust Financial Advisors increased its position in shares of Interface by 228.8% during the first quarter. Captrust Financial Advisors now owns 2,604 shares of the textile maker’s stock worth $35,000 after acquiring an additional 1,812 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Interface by 131.1% during the first quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock worth $66,000 after acquiring an additional 2,237 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Interface during the second quarter worth about $50,000. PNC Financial Services Group Inc. increased its position in shares of Interface by 407.7% during the second quarter. PNC Financial Services Group Inc. now owns 4,899 shares of the textile maker’s stock worth $43,000 after acquiring an additional 3,934 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Interface during the fourth quarter worth about $61,000. 98.34% of the stock is owned by institutional investors.

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.