Mohawk Industries, Inc. (MHK) Issues FY14 Earnings Guidance

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Mohawk Industries, Inc. (NYSE:MHK) issued an update on its FY14 earnings guidance on Thursday morning. The company provided EPS guidance of $8.00-8.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $8.24, AmericanBankingNews.com reports. Mohawk Industries also updated its Q2 guidance to $2.14-2.23 EPS.

Mohawk Industries, Inc. (NYSE:MHK) opened at 133.32 on Friday. Mohawk Industries, Inc. has a one year low of $103.74 and a one year high of $155.48. The stock has a 50-day moving average of $136.0 and a 200-day moving average of $139.6. The company has a market cap of $9.693 billion and a price-to-earnings ratio of 27.46.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.18 by $0.05. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the company posted $0.87 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. Analysts expect that Mohawk Industries, Inc. will post $8.21 EPS for the current fiscal year.

Several analysts have recently commented on the stock. Analysts at Ned Davis Research upgraded shares of Mohawk Industries from a neutral rating to a buy rating in a research note on Monday. On a related note, analysts at Barclays cut their price target on shares of Mohawk Industries from $167.00 to $166.00 in a research note on Monday, March 31st. Finally, analysts at Stifel Nicolaus raised their price target on shares of Mohawk Industries from $160.00 to $165.00 in a research note on Monday, February 24th. They now have a buy rating on the stock. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $161.09.

Mohawk Industries, Inc (NYSE:MHK) is a producer of floor covering products for residential and commercial applications in the United States and residential applications in Europe.

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