Mohawk Industries (NYSE:MHK) Releases Earnings Results, Beats Estimates By $0.05 EPS

Mohawk Industries (NYSE:MHK) posted its quarterly earnings results on Thursday. The company reported $2.25 EPS for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.05, Bloomberg Earnings reports. Mohawk Industries had a return on equity of 9.82% and a net margin of 7.09%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the previous year, the firm earned $2.53 earnings per share. Mohawk Industries’s revenue for the quarter was down 1.0% compared to the same quarter last year. Mohawk Industries updated its Q1 2020
After-Hours guidance to 1.90-2.00 EPS and its Q1 guidance to $1.90-2.00 EPS.

Shares of MHK stock traded down $0.54 on Thursday, reaching $132.64. The company had a trading volume of 688,053 shares, compared to its average volume of 666,595. The stock has a market capitalization of $9.12 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.61 and a beta of 1.36. The company has a quick ratio of 0.77, a current ratio of 1.52 and a debt-to-equity ratio of 0.22. Mohawk Industries has a one year low of $108.93 and a one year high of $156.60. The business’s 50-day moving average is $134.03 and its 200 day moving average is $130.26.

MHK has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised shares of Mohawk Industries from an “underweight” rating to a “neutral” rating and set a $136.00 target price on the stock in a report on Thursday, January 16th. Cfra upgraded shares of Mohawk Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. Robert W. Baird upped their price target on shares of Mohawk Industries from $150.00 to $168.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Deutsche Bank assumed coverage on shares of Mohawk Industries in a research report on Wednesday, November 27th. They set a “hold” rating on the stock. Finally, ValuEngine raised shares of Mohawk Industries from a “sell” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Mohawk Industries has an average rating of “Hold” and a consensus target price of $146.15.

In related news, insider Suzanne L. Helen sold 7,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $138.94, for a total value of $972,580.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 18.00% of the company’s stock.

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).

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Earnings History for Mohawk Industries (NYSE:MHK)

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