Mohawk Industries, Inc. (MHK) Releases Q3 Earnings Guidance
Mohawk Industries, Inc. (NYSE:MHK) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.70-3.79 for the period, compared to the Thomson Reuters consensus estimate of $3.74.
A number of analysts have recently issued reports on the company. BidaskClub cut Mohawk Industries from a strong-buy rating to a buy rating in a research report on Monday. Royal Bank Of Canada reaffirmed a buy rating and issued a $267.00 price objective on shares of Mohawk Industries in a research report on Monday. Zacks Investment Research raised Mohawk Industries from a hold rating to a buy rating and set a $268.00 price objective for the company in a research report on Tuesday, July 4th. Credit Suisse Group started coverage on Mohawk Industries in a report on Thursday, June 22nd. They set an outperform rating and a $274.00 price target for the company. Finally, Stifel Nicolaus lifted their price target on Mohawk Industries from $250.00 to $260.00 and gave the stock a buy rating in a report on Monday, May 1st. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Mohawk Industries has an average rating of Buy and a consensus price target of $260.67.
Mohawk Industries, Inc. (NYSE:MHK) traded down 0.75% during mid-day trading on Thursday, reaching $238.34. The company had a trading volume of 882,429 shares. The stock’s market capitalization is $17.71 billion. The company’s 50-day moving average is $243.63 and its 200-day moving average is $230.77. Mohawk Industries, Inc. has a one year low of $175.52 and a one year high of $249.61.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, July 27th. The company reported $3.72 EPS for the quarter, beating the Zacks’ consensus estimate of $3.60 by $0.12. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Mohawk Industries had a return on equity of 16.88% and a net margin of 10.65%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.47 earnings per share. Equities research analysts anticipate that Mohawk Industries, Inc. will post $13.37 earnings per share for the current year.
In related news, insider Suzanne L. Helen sold 6,200 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $240.62, for a total value of $1,491,844.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Rodney David Patton sold 387 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $242.00, for a total value of $93,654.00. Following the completion of the transaction, the vice president now directly owns 7,061 shares in the company, valued at approximately $1,708,762. The disclosure for this sale can be found here. In the last three months, insiders sold 7,587 shares of company stock worth $1,823,768. 17.10% of the stock is owned by insiders.
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Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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