Interface said on March 14, 2023 that its board of directors declared a regular quarterly dividend of $0.01 per share ($0.04 annualized). Previously, the company paid $0.01 per share.
Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 14, 2023.
At the current share price of $7.92 / share, the stock's dividend yield is 0.51%. Looking back five years and taking a sample every week, the average dividend yield has been 0.96%, the lowest has been 0.24%, and the highest has been 4.15%. The standard deviation of yields is 0.78 (n=236).
The current dividend yield is 0.58 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.12. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.85%.
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Analyst Price Forecast Suggests 93.18% Upside
As of March 16, 2023, the average one-year price target for Interface is $15.30. The forecasts range from a low of $9.09 to a high of $18.90. The average price target represents an increase of 93.18% from its latest reported closing price of $7.92.
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The projected annual revenue for Interface is $1,360MM, an increase of 4.78%. The projected annual non-GAAP EPS is $1.48.
What is the Fund Sentiment?
There are 428 funds or institutions reporting positions in Interface. This is a decrease of 9 owner(s) or 2.06% in the last quarter. Average portfolio weight of all funds dedicated to TILE is 0.10%, a decrease of 1.77%. Total shares owned by institutions decreased in the last three months by 1.64% to 65,000K shares. The put/call ratio of TILE is 0.54, indicating a bullish outlook.
What are Large Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 4,311K shares representing 7.42% ownership of the company. In it's prior filing, the firm reported owning 4,299K shares, representing an increase of 0.27%. The firm increased its portfolio allocation in TILE by 0.15% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 4,162K shares representing 7.17% ownership of the company. In it's prior filing, the firm reported owning 4,721K shares, representing a decrease of 13.42%. The firm decreased its portfolio allocation in TILE by 9.53% over the last quarter.
Capital World Investors holds 4,162K shares representing 7.17% ownership of the company. In it's prior filing, the firm reported owning 4,721K shares, representing a decrease of 13.42%. The firm decreased its portfolio allocation in TILE by 8.09% over the last quarter.
Frontier Capital Management Co holds 3,642K shares representing 6.27% ownership of the company. In it's prior filing, the firm reported owning 3,679K shares, representing a decrease of 1.01%. The firm increased its portfolio allocation in TILE by 0.96% over the last quarter.
Barrow Hanley Mewhinney & Strauss holds 2,885K shares representing 4.97% ownership of the company. In it's prior filing, the firm reported owning 2,805K shares, representing an increase of 2.80%. The firm increased its portfolio allocation in TILE by 3.49% over the last quarter.
Interface Background Information
(This description is provided by the company.)
Interface, Inc. is a global flooring company specializing in carbon neutral carpet tile and resilient flooring, including luxury vinyl tile (LVT) and nora® rubber flooring. Interface helps its customers create high-performance interior spaces that support well-being, productivity, and creativity, as well as the sustainability of the planet. With its mission, Climate Take Back™, Interface commits to operating in a way that is restorative to the planet and creates a climate fit for life.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
