Interface, Inc. Declares Quarterly Dividend of $0.07 (NASDAQ:TILE)

Interface, Inc. (NASDAQ:TILE) announced a quarterly dividend on Thursday, July 25th, RTT News reports. Investors of record on Friday, August 9th will be given a dividend of 0.065 per share by the textile maker on Friday, August 23rd. This represents a $0.26 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, August 8th.

Interface has increased its dividend payment by an average of 13.0% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Interface has a dividend payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Interface to earn $1.74 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 14.9%.

TILE stock opened at $11.81 on Wednesday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.33 and a current ratio of 2.49. Interface has a 1 year low of $11.73 and a 1 year high of $24.50. The firm has a fifty day simple moving average of $14.84. The firm has a market cap of $754.64 million, a price-to-earnings ratio of 7.93 and a beta of 1.46.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. Interface had a net margin of 3.90% and a return on equity of 24.81%. The business had revenue of $357.50 million during the quarter, compared to analyst estimates of $358.37 million. During the same quarter in the previous year, the business earned $0.42 EPS. Interface’s quarterly revenue was up 26.1% compared to the same quarter last year. Sell-side analysts anticipate that Interface will post 1.52 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on TILE shares. BidaskClub lowered shares of Interface from a “sell” rating to a “strong sell” rating in a research note on Friday, August 2nd. ValuEngine lowered shares of Interface from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research lowered shares of Interface from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, SunTrust Banks set a $17.00 price objective on shares of Interface and gave the company a “buy” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Interface currently has a consensus rating of “Hold” and an average target price of $23.40.

About Interface

Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.

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Dividend History for Interface (NASDAQ:TILE)

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