Mohawk Industries (NYSE:MHK) Issues Q2 Earnings Guidance

Mohawk Industries (NYSE:MHK) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $2.68-2.78 for the period, compared to the consensus EPS estimate of $2.68.

Mohawk Industries Stock Down 1.0 %

NYSE MHK traded down $1.13 during trading on Thursday, hitting $110.27. 818,880 shares of the company traded hands, compared to its average volume of 705,598. Mohawk Industries has a 12 month low of $76.02 and a 12 month high of $131.19. The business has a fifty day simple moving average of $118.99 and a 200 day simple moving average of $102.80. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $7.02 billion, a P/E ratio of -15.68 and a beta of 1.34.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Friday, February 9th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.10. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 earnings per share. As a group, sell-side analysts predict that Mohawk Industries will post 9.56 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group boosted their target price on Mohawk Industries from $105.00 to $120.00 and gave the stock a buy rating in a report on Thursday, January 11th. Barclays boosted their price objective on shares of Mohawk Industries from $100.00 to $122.00 and gave the stock an equal weight rating in a research report on Monday, February 12th. StockNews.com upgraded shares of Mohawk Industries from a hold rating to a buy rating in a research report on Saturday, February 17th. Royal Bank of Canada boosted their price objective on shares of Mohawk Industries from $101.00 to $106.00 and gave the stock a sector perform rating in a research report on Monday, February 12th. Finally, Wells Fargo & Company dropped their price objective on shares of Mohawk Industries from $105.00 to $100.00 and set an underweight rating for the company in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $118.75.

Insider Buying and Selling

In related news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the transaction, the vice president now directly owns 15,321 shares of the company’s stock, valued at approximately $1,831,012.71. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.