Mohawk Industries (MHK) Releases Earnings Results, Beats Expectations By $0.06 EPS

Mohawk Industries (MHK) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $2.38 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $2.32. The company posted revenue of $2172.05 million in the period, compared to analysts expectations of $2098.37 million. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.70 EPS.

Many Wall Street Analysts have commented on Mohawk Industries. MKM Partners Initiated Mohawk Industries on Apr 12, 2016 to “Buy”, Price Target of the shares are set at $244.Company shares were Reiterated by RBC Capital Mkts on Mar 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 218 from a previous price target of $205 .Shares were Reiterated by Barclays on Feb 29, 2016 to “Overweight” and Lowered the Price Target to $ 200 from a previous price target of $201 .

Mohawk Industries closed down -0.46 points or -0.24% at $192.72 with 6,93,502 shares getting traded on Wednesday. Post opening the session at $191.84, the shares hit an intraday low of $190.93 and an intraday high of $193.5 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 21, 2016, James Brunk (Corporate Controller and CAO) sold 2,126 shares at $189.11 per share price. According to the SEC, on Mar 16, 2016, Bernard Thiers (President-Flooring Eur and ROW) sold 4,961 shares at $183.91 per share price. On Mar 15, 2016, Rodney David Patton (VP-Business Strategy and GC) sold 550 shares at $186.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Mohawk Industries Inc. is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company operates in three segments: the Carpet segment the Ceramic segment and the Laminate and Wood segment. The Carpet segment designs manufactures sources distributes and markets its carpet and rug product lines in a range of colors textures and patterns for residential and commercial applications. The Ceramic segment designs manufactures sources distributes and markets a line of ceramic tile porcelain tile and natural stone products. The Laminate and Wood segment designs manufactures sources licenses distributes and markets laminate and hardwood flooring. Its manufacturing and distribution processes provide carpet rugs ceramic tile laminate wood stone and vinyl flooring. Its brands include American Olean Bigelow Daltile Durkan Karastan Kerama Marazzi Lees Marazzi Mohawk Pergo Quick-Step and Unilin.

Mohawk Industries

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