Mohawk Industries, Inc. to Post Q1 2019 Earnings of $2.05 Per Share, Jefferies Financial Group Forecasts (MHK)

Mohawk Industries, Inc. (NYSE:MHK) – Equities research analysts at Jefferies Financial Group dropped their Q1 2019 EPS estimates for shares of Mohawk Industries in a report issued on Monday, February 11th. Jefferies Financial Group analyst P. Ng now forecasts that the company will post earnings per share of $2.05 for the quarter, down from their prior forecast of $2.36. Jefferies Financial Group currently has a “Hold” rating on the stock. Jefferies Financial Group also issued estimates for Mohawk Industries’ Q2 2019 earnings at $3.28 EPS, Q3 2019 earnings at $3.47 EPS, Q4 2019 earnings at $2.87 EPS and FY2019 earnings at $11.68 EPS.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, February 7th. The company reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.04. Mohawk Industries had a return on equity of 12.40% and a net margin of 8.63%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the firm posted $3.42 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year.

A number of other analysts have also weighed in on MHK. Zacks Investment Research upgraded Mohawk Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, January 23rd. SunTrust Banks increased their price target on Mohawk Industries to $150.00 and gave the stock a “buy” rating in a research report on Monday. They noted that the move was a valuation call. Buckingham Research assumed coverage on Mohawk Industries in a research report on Friday, February 1st. They set an “underperform” rating and a $116.00 price target on the stock. Loop Capital increased their price target on Mohawk Industries to $126.00 and gave the stock an “underperform” rating in a research report on Friday. Finally, Wells Fargo & Co increased their price target on Mohawk Industries from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Monday. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $168.94.

MHK stock opened at $137.98 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.68 and a current ratio of 1.38. Mohawk Industries has a twelve month low of $109.35 and a twelve month high of $257.46. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 1.76 and a beta of 1.49.

Mohawk Industries announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 25th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

In related news, insider Suzanne L. Helen sold 10,642 shares of the firm’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $128.83, for a total transaction of $1,371,008.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Filip Balcaen acquired 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 26th. The shares were bought at an average cost of $109.76 per share, for a total transaction of $987,840.00. Following the transaction, the director now owns 776 shares of the company’s stock, valued at $85,173.76. The disclosure for this purchase can be found here. Insiders have bought a total of 216,046 shares of company stock worth $26,149,264 in the last three months. Corporate insiders own 16.80% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in Mohawk Industries by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 429,671 shares of the company’s stock worth $92,064,000 after acquiring an additional 1,723 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Mohawk Industries by 5.6% in the third quarter. State of Alaska Department of Revenue now owns 15,478 shares of the company’s stock worth $2,712,000 after acquiring an additional 822 shares in the last quarter. Bank of Montreal Can boosted its holdings in Mohawk Industries by 62.3% in the third quarter. Bank of Montreal Can now owns 32,087 shares of the company’s stock worth $5,626,000 after acquiring an additional 12,315 shares in the last quarter. Andra AP fonden boosted its holdings in Mohawk Industries by 10.2% in the third quarter. Andra AP fonden now owns 15,100 shares of the company’s stock worth $2,648,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Tributary Capital Management LLC boosted its holdings in Mohawk Industries by 35.3% in the third quarter. Tributary Capital Management LLC now owns 4,600 shares of the company’s stock worth $807,000 after acquiring an additional 1,200 shares in the last quarter. 80.85% of the stock is currently owned by institutional investors.

About Mohawk Industries

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).

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

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