Mohawk Industries (MHK) Issues Earnings Results

Mohawk Industries (NYSE:MHK) released its earnings results on Thursday. The company reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.10, Bloomberg Earnings reports. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.26 EPS.

Mohawk Industries (MHK) opened at $256.57 on Friday. The stock has a market capitalization of $19,070.00, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 2.19 and a beta of 1.26. Mohawk Industries has a twelve month low of $209.90 and a twelve month high of $286.85. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.23.

A number of analysts have weighed in on MHK shares. Zacks Investment Research downgraded shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. SunTrust Banks reissued a “buy” rating and set a $275.00 target price on shares of Mohawk Industries in a research report on Friday, October 27th. Nomura set a $300.00 target price on shares of Mohawk Industries and gave the company a “buy” rating in a research report on Friday, October 27th. Stifel Nicolaus reissued a “buy” rating and set a $270.00 target price on shares of Mohawk Industries in a research report on Sunday, October 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $300.00 target price (up previously from $291.00) on shares of Mohawk Industries in a research report on Monday, October 30th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $295.25.

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About Mohawk Industries

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.

Earnings History for Mohawk Industries (NYSE:MHK)

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