Mohawk Industries, Inc. (MHK) Releases FY14 Earnings Guidance
Mohawk Industries, Inc. (NYSE:MHK) updated its FY14 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $8.00-8.30 for the period, compared to the Thomson Reuters consensus estimate of $8.24, Stock Ratings News reports. Mohawk Industries also updated its Q2 guidance to $2.14-2.23 EPS.
Mohawk Industries, Inc. (NYSE:MHK) traded up 0.69% on Thursday, hitting $133.32. 1,011,357 shares of the company’s stock traded hands. Mohawk Industries, Inc. has a 1-year low of $103.74 and a 1-year high of $155.48. The stock’s 50-day moving average is $136.1 and its 200-day moving average is $139.6. The company has a market cap of $9.693 billion and a P/E ratio of 27.46.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.18 by $0.05. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the company posted $0.87 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. On average, analysts predict that Mohawk Industries, Inc. will post $8.21 earnings per share for the current fiscal year.
MHK has been the subject of a number of recent research reports. Analysts at Ned Davis Research upgraded shares of Mohawk Industries from a neutral rating to a buy rating in a research note on Monday. On a related note, analysts at Barclays cut their price target on shares of Mohawk Industries from $167.00 to $166.00 in a research note on Monday, March 31st. Finally, analysts at Stifel Nicolaus raised their price target on shares of Mohawk Industries from $160.00 to $165.00 in a research note on Monday, February 24th. They now have a buy rating on the stock. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Mohawk Industries has an average rating of Buy and a consensus target price of $161.09.
Mohawk Industries, Inc (NYSE:MHK) is a producer of floor covering products for residential and commercial applications in the United States and residential applications in Europe.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.