Analysts Anticipate Mohawk Industries, Inc. (MHK) Will Post Earnings of $3.93 Per Share

Wall Street analysts expect that Mohawk Industries, Inc. (NYSE:MHK) will post earnings of $3.93 per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Mohawk Industries’ earnings, with estimates ranging from $3.85 to $3.96. Mohawk Industries reported earnings per share of $3.72 during the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The firm is expected to report its next quarterly earnings results on Thursday, July 26th.

According to Zacks, analysts expect that Mohawk Industries will report full-year earnings of $15.40 per share for the current year, with EPS estimates ranging from $15.10 to $16.00. For the next financial year, analysts forecast that the firm will post earnings of $17.08 per share, with EPS estimates ranging from $16.24 to $17.75. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Mohawk Industries.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, April 26th. The company reported $3.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.00 by $0.01. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.40 billion. Mohawk Industries had a net margin of 10.12% and a return on equity of 15.05%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.72 EPS.

MHK has been the subject of several research reports. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price for the company in a report on Monday, April 16th. Credit Suisse Group dropped their target price on shares of Mohawk Industries from $310.00 to $275.00 and set a “buy” rating for the company in a report on Friday, April 27th. Loop Capital dropped their target price on shares of Mohawk Industries to $227.00 and set a “hold” rating for the company in a report on Friday, April 27th. Stifel Nicolaus dropped their target price on shares of Mohawk Industries from $300.00 to $290.00 and set a “buy” rating for the company in a report on Monday, April 30th. Finally, Robert W. Baird set a $272.00 target price on shares of Mohawk Industries and gave the company a “buy” rating in a report on Monday, April 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $279.67.

Mohawk Industries traded up $1.17, hitting $215.03, during trading on Tuesday, MarketBeat.com reports. The company had a trading volume of 405,600 shares, compared to its average volume of 803,932. Mohawk Industries has a 1-year low of $202.75 and a 1-year high of $286.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 1.54. The company has a market capitalization of $15.98 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.36 and a beta of 1.38.

In other Mohawk Industries news, Director Filip Balcaen purchased 66,199 shares of the firm’s stock in a transaction on Tuesday, May 1st. The stock was bought at an average price of $209.08 per share, with a total value of $13,840,886.92. Following the transaction, the director now directly owns 776 shares of the company’s stock, valued at approximately $162,246.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bernard Thiers sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $212.60, for a total transaction of $2,126,000.00. Following the completion of the transaction, the insider now directly owns 45,156 shares of the company’s stock, valued at approximately $9,600,165.60. The disclosure for this sale can be found here. Insiders acquired a total of 102,157 shares of company stock valued at $21,387,408 in the last three months. 16.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Cornerstone Advisors Inc. boosted its position in Mohawk Industries by 36.1% in the 1st quarter. Cornerstone Advisors Inc. now owns 886 shares of the company’s stock valued at $206,000 after buying an additional 235 shares during the period. TLP Group LLC boosted its position in Mohawk Industries by 35.7% in the 1st quarter. TLP Group LLC now owns 980 shares of the company’s stock valued at $228,000 after buying an additional 258 shares during the period. M&T Bank Corp boosted its position in Mohawk Industries by 6.0% in the 1st quarter. M&T Bank Corp now owns 4,596 shares of the company’s stock valued at $1,067,000 after buying an additional 262 shares during the period. Xact Kapitalforvaltning AB boosted its position in Mohawk Industries by 3.1% in the 1st quarter. Xact Kapitalforvaltning AB now owns 10,403 shares of the company’s stock valued at $2,416,000 after buying an additional 308 shares during the period. Finally, Providence Capital Advisors LLC boosted its position in Mohawk Industries by 6.2% in the 1st quarter. Providence Capital Advisors LLC now owns 6,213 shares of the company’s stock valued at $1,443,000 after buying an additional 365 shares during the period. 77.21% of the stock is owned by institutional investors.

Mohawk Industries Company Profile

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).

Get a free copy of the Zacks research report on Mohawk Industries (MHK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Mohawk Industries (NYSE:MHK)

Receive News & Ratings for Mohawk Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply