Brokerages expect Mohawk Industries, Inc. (NYSE:MHK) to post sales of $2.38 billion for the current quarter, according to Zacks. Seven analysts have issued estimates for Mohawk Industries’ earnings. The lowest sales estimate is $2.34 billion and the highest is $2.46 billion. Mohawk Industries posted sales of $2.18 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.2%. The company is scheduled to issue its next earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Mohawk Industries will report full-year sales of $2.38 billion for the current financial year, with estimates ranging from $9.44 billion to $9.58 billion. For the next fiscal year, analysts expect that the firm will post sales of $10.16 billion per share, with estimates ranging from $9.93 billion to $10.37 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Mohawk Industries.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, October 26th. The company reported $3.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.74 by $0.01. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.46 billion. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. The business’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.50 EPS.
A number of research analysts have recently commented on the stock. Nomura reaffirmed a “buy” rating and set a $288.00 price objective (up previously from $280.00) on shares of Mohawk Industries in a research report on Thursday, September 28th. JPMorgan Chase & Co. upped their price objective on shares of Mohawk Industries from $250.00 to $285.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Instinet reaffirmed a “buy” rating and set a $288.00 price objective (up previously from $280.00) on shares of Mohawk Industries in a research report on Saturday, September 30th. Jefferies Group assumed coverage on shares of Mohawk Industries in a research report on Tuesday, December 12th. They set a “buy” rating and a $330.00 price objective for the company. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $275.00 price objective on shares of Mohawk Industries in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $289.33.
Mohawk Industries (MHK) traded down $0.24 during trading on Friday, reaching $275.90. 311,683 shares of the company’s stock were exchanged, compared to its average volume of 479,080. The firm has a market cap of $20,522.73, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 2.50 and a beta of 1.37. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48. Mohawk Industries has a 52-week low of $198.45 and a 52-week high of $286.85.
A number of hedge funds and other institutional investors have recently bought and sold shares of MHK. Sei Investments Co. increased its stake in Mohawk Industries by 47.9% in the second quarter. Sei Investments Co. now owns 2,420 shares of the company’s stock valued at $585,000 after acquiring an additional 784 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Mohawk Industries by 5.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 204,888 shares of the company’s stock valued at $49,520,000 after acquiring an additional 11,399 shares during the period. Great Lakes Advisors LLC bought a new stake in Mohawk Industries in the second quarter valued at about $336,000. Robeco Institutional Asset Management B.V. increased its stake in Mohawk Industries by 29.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,096 shares of the company’s stock valued at $748,000 after acquiring an additional 711 shares during the period. Finally, Andra AP fonden increased its stake in Mohawk Industries by 18.1% in the second quarter. Andra AP fonden now owns 12,400 shares of the company’s stock valued at $2,997,000 after acquiring an additional 1,900 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.
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Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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