Interface (NASDAQ:TILE) Issues Earnings Results, Beats Estimates By $0.14 EPS

Interface (NASDAQ:TILE) posted its earnings results on Friday. The textile maker reported $0.48 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $336.39 million. During the same period last year, the firm earned $0.28 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. Interface updated its FY 2024 guidance to EPS.

Interface Trading Up 33.0 %

Shares of TILE stock opened at $23.24 on Friday. The stock has a 50-day simple moving average of $18.64 and a 200 day simple moving average of $16.80. The stock has a market capitalization of $1.35 billion, a P/E ratio of 20.75, a P/E/G ratio of 0.93 and a beta of 1.97. Interface has a fifty-two week low of $9.04 and a fifty-two week high of $23.46. The company has a quick ratio of 1.45, a current ratio of 2.76 and a debt-to-equity ratio of 0.84.

Interface Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend was Friday, August 30th. Interface’s dividend payout ratio is presently 3.57%.

Insiders Place Their Bets

In other news, CFO Bruce Andrew Hausmann sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total transaction of $935,000.00. Following the completion of the transaction, the chief financial officer now owns 198,475 shares in the company, valued at approximately $3,374,075. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Daniel T. Hendrix sold 3,403 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $15.99, for a total transaction of $54,413.97. Following the sale, the director now directly owns 200,147 shares of the company’s stock, valued at $3,200,350.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Bruce Andrew Hausmann sold 55,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total value of $935,000.00. Following the completion of the transaction, the chief financial officer now owns 198,475 shares of the company’s stock, valued at $3,374,075. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,458 shares of company stock worth $1,339,433. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barrington Research increased their price target on Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th.

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.