Mohawk sees Q1 EPS 77c-86c, consensus 92c The company said, "We are seeing some inflation in our raw materials and are taking the appropriate actions in the marketplace to address. In the U.S., low mortgage rates, stabilizing home prices and improving employment should sustain the housing recovery. We believe that U.S. residential remodeling should see improvement in the future and that the European economic conditions are near a bottom. We anticipate revenue growth for 2013 as the U.S. market improves and we realize some benefits from recent acquisitions. The first quarter earnings are seasonally the lowest and represented a little less than one sixth of 2012's full year results."
News For MHK From The Last 14 Days
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Mohawk upgraded to Outperform from Neutral at Credit Suisse Credit Suisse assumed coverage on Mohawk with an Outperform rating from a Neutral rating due to higher earnings and margin assumptions. Price target raised to $166 from $142.