Mohawk Industries (MHK) Announces Earnings Results

Mohawk Industries (NYSE:MHK) released its quarterly earnings data on Wednesday. The company reported $3.01 EPS for the quarter, beating the Zacks’ consensus estimate of $3.00 by $0.01, Bloomberg Earnings reports. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.40 billion. Mohawk Industries had a net margin of 10.24% and a return on equity of 15.44%. Mohawk Industries’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.72 EPS.

Shares of NYSE MHK traded up $0.08 during midday trading on Thursday, reaching $227.20. 1,132,764 shares of the stock were exchanged, compared to its average volume of 738,850. The company has a market capitalization of $16,913.18, a P/E ratio of 16.69, a P/E/G ratio of 1.59 and a beta of 1.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.53 and a quick ratio of 0.80. Mohawk Industries has a twelve month low of $221.96 and a twelve month high of $286.85.

In other news, insider Bernard Thiers sold 17,383 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $250.00, for a total transaction of $4,345,750.00. Following the completion of the sale, the insider now owns 50,003 shares in the company, valued at approximately $12,500,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Henry Runge III purchased 500 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were purchased at an average price of $250.87 per share, with a total value of $125,435.00. Following the acquisition, the director now directly owns 2,335 shares in the company, valued at $585,781.45. The disclosure for this purchase can be found here. Insiders have sold a total of 34,595 shares of company stock valued at $8,603,365 in the last 90 days. Insiders own 16.80% of the company’s stock.

A number of analysts have commented on MHK shares. Goldman Sachs downgraded shares of Mohawk Industries from a “conviction-buy” rating to a “buy” rating and cut their price objective for the company from $306.00 to $292.00 in a report on Thursday, March 1st. Longbow Research upgraded shares of Mohawk Industries from a “neutral” rating to a “buy” rating in a report on Monday, February 12th. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Finally, Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $303.00 price objective for the company in a report on Monday, February 5th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $290.73.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

Earnings History for Mohawk Industries (NYSE:MHK)

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