Analysts Issue Forecasts for Interface, Inc.’s Q1 2024 Earnings (NASDAQ:TILE)

Interface, Inc. (NASDAQ:TILE) – Equities research analysts at Barrington Research issued their Q1 2024 earnings estimates for shares of Interface in a 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 $1.05 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.

Other equities research analysts have also issued research reports about the stock. Truist Financial raised their price target on shares of Interface from $10.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. TheStreet raised Interface from a “c” rating to a “b-” rating in a report on Tuesday, February 27th.

Interface Stock Up 0.3 %

TILE stock opened at $14.93 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 2.72 and a debt-to-equity ratio of 0.96. The firm’s 50-day simple moving average is $15.32 and its 200 day simple moving average is $12.44. The stock has a market cap of $868.93 million, a PE ratio of 19.64, a price-to-earnings-growth ratio of 0.96 and a beta of 1.98. Interface has a fifty-two week low of $6.51 and a fifty-two week high of $18.47.

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

Interface Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given 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 dividend payout ratio (DPR) is presently 5.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TILE. Pzena Investment Management LLC raised its holdings in shares of Interface by 65.2% in the 3rd quarter. Pzena Investment Management LLC now owns 3,614,372 shares of the textile maker’s stock worth $35,457,000 after purchasing an additional 1,426,749 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Interface by 112.4% during the 4th quarter. Pacer Advisors Inc. now owns 2,432,561 shares of the textile maker’s stock valued at $30,699,000 after acquiring an additional 1,287,420 shares during the last quarter. Meros Investment Management LP lifted its position in shares of Interface by 53.1% during the 4th quarter. Meros Investment Management LP now owns 797,379 shares of the textile maker’s stock valued at $7,870,000 after acquiring an additional 276,707 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Interface by 200.0% during the 1st quarter. AQR Capital Management LLC now owns 357,413 shares of the textile maker’s stock worth $2,902,000 after acquiring an additional 238,282 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Interface by 18.4% in the 1st quarter. Invesco Ltd. now owns 1,378,806 shares of the textile maker’s stock worth $18,711,000 after acquiring an additional 214,547 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

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.