Interface (NASDAQ:TILE) Issues Earnings Results

Interface (NASDAQ:TILEGet Free Report) posted its quarterly earnings results on Tuesday. The textile maker reported $0.41 EPS for the quarter, topping the consensus estimate of $0.22 by $0.19, MarketWatch Earnings reports. Interface had a return on equity of 14.95% and a net margin of 3.53%. The business had revenue of $325.10 million for the quarter, compared to analyst estimates of $320.16 million. During the same quarter in the previous year, the firm earned $0.31 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. Interface updated its FY 2024 guidance to EPS and its Q1 2024 guidance to EPS.

Interface Price Performance

Shares of TILE opened at $15.41 on Thursday. The firm has a 50-day simple moving average of $12.71 and a two-hundred day simple moving average of $10.93. The stock has a market cap of $895.48 million, a PE ratio of 20.28 and a beta of 1.94. Interface has a 1-year low of $6.51 and a 1-year high of $15.70. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.72 and a quick ratio of 1.41.

Hedge Funds Weigh In On Interface

A number of hedge funds have recently made changes to their positions in TILE. LPL Financial LLC raised its position in Interface by 2.9% in the fourth quarter. LPL Financial LLC now owns 31,475 shares of the textile maker’s stock valued at $311,000 after purchasing an additional 892 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Interface by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,527 shares of the textile maker’s stock valued at $380,000 after buying an additional 942 shares during the period. First Republic Investment Management Inc. lifted its stake in Interface by 7.8% during the 4th quarter. First Republic Investment Management Inc. now owns 13,667 shares of the textile maker’s stock worth $135,000 after acquiring an additional 994 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Interface by 5.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 19,077 shares of the textile maker’s stock valued at $167,000 after acquiring an additional 1,031 shares during the period. Finally, Legal & General Group Plc grew its position in Interface by 0.8% in the 4th quarter. Legal & General Group Plc now owns 145,065 shares of the textile maker’s stock valued at $1,432,000 after acquiring an additional 1,084 shares in the last quarter. Hedge funds and other institutional investors own 90.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on TILE shares. TheStreet raised shares of Interface from a “c” rating to a “b-” rating in a research note on Tuesday. StockNews.com upgraded Interface from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 30th. Finally, Truist Financial lifted their target price on Interface from $10.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday.

Get Our Latest Stock Analysis on Interface

Interface Company Profile

(Get Free Report)

Interface, Inc designs, produces, and sells modular carpet products primarily in the United States and internationally. 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 and vinyl sheet under the Interface brand; 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.

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Earnings History for Interface (NASDAQ:TILE)

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