Interface, Inc. Declares Quarterly Dividend of $0.03 (NASDAQ:TILE)

Interface, Inc. (NASDAQ:TILE) announced a quarterly dividend on Thursday, August 20th. Investors of record on Friday, September 4th will be paid a dividend of 0.03 per share by the textile maker on Friday, September 18th. This represents a c) annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 4th.

Interface has decreased its dividend payment by an average of 0.1%annually over the last three years. Interface has a dividend payout ratio of 6.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Interface to earn $2.54 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 4.7%.

Interface Stock Performance

NASDAQ:TILE opened at $39.08 on Friday. The company has a market cap of $2.27 billion, a P/E ratio of 15.82, a P/E/G ratio of 1.11 and a beta of 1.90. The company’s 50-day moving average price is $34.59 and its 200-day moving average price is $30.91. Interface has a twelve month low of $24.40 and a twelve month high of $40.50. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.24. Interface had a net margin of 10.10% and a return on equity of 21.77%. The business had revenue of $395.70 million during the quarter, compared to analysts’ expectations of $391.22 million. During the same quarter in the prior year, the company posted $0.60 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts forecast that Interface will post 2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TILE shares. Benchmark began coverage on Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price objective for the company. Wall Street Zen lowered Interface from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Barrington Research raised their price target on shares of Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Interface currently has an average rating of “Moderate Buy” and an average price target of $40.50.

Interface Company Profile

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.