Mohawk Industries, Inc. (NYSE:MHK) Expected to Post Quarterly Sales of $2.75 Billion

Wall Street brokerages expect Mohawk Industries, Inc. (NYSE:MHK) to post sales of $2.75 billion for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Mohawk Industries’ earnings, with the highest sales estimate coming in at $2.83 billion and the lowest estimate coming in at $2.68 billion. Mohawk Industries reported sales of $2.64 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.2%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 10th.

According to Zacks, analysts expect that Mohawk Industries will report full-year sales of $11.19 billion for the current year, with estimates ranging from $11.12 billion to $11.27 billion. For the next year, analysts anticipate that the firm will post sales of $11.78 billion, with estimates ranging from $11.56 billion to $12.00 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Mohawk Industries.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, October 28th. The company reported $3.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.80 by $0.15. The business had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.90 billion. Mohawk Industries had a return on equity of 12.50% and a net margin of 9.86%. Mohawk Industries’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $3.26 earnings per share.

MHK has been the subject of a number of research reports. Raymond James decreased their price objective on Mohawk Industries from $250.00 to $245.00 and set a “strong-buy” rating for the company in a report on Monday, November 1st. Royal Bank of Canada decreased their price target on Mohawk Industries from $167.00 to $157.00 and set an “underperform” rating for the company in a research note on Monday, November 1st. Zacks Investment Research downgraded Mohawk Industries from a “buy” rating to a “hold” rating and set a $188.00 price target for the company. in a research note on Monday, October 4th. Bank of America assumed coverage on Mohawk Industries in a research note on Monday, November 8th. They issued an “underperform” rating for the company. Finally, Barclays decreased their price target on Mohawk Industries from $235.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, November 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $195.33.

Shares of NYSE:MHK traded down $1.55 during mid-day trading on Friday, reaching $179.70. 409,169 shares of the stock were exchanged, compared to its average volume of 515,046. The company has a quick ratio of 1.18, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a market cap of $12.17 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.51 and a beta of 1.50. Mohawk Industries has a one year low of $124.16 and a one year high of $231.80. The stock’s 50 day simple moving average is $181.75 and its 200-day simple moving average is $192.50.

Several hedge funds and other institutional investors have recently made changes to their positions in MHK. WASHINGTON TRUST Co bought a new stake in Mohawk Industries in the 2nd quarter valued at about $25,000. Moors & Cabot Inc. bought a new stake in shares of Mohawk Industries in the third quarter valued at approximately $25,000. Berman Capital Advisors LLC grew its position in Mohawk Industries by 213.7% during the second quarter. Berman Capital Advisors LLC now owns 160 shares of the company’s stock worth $30,000 after buying an additional 109 shares in the last quarter. Credit Agricole S A increased its stake in Mohawk Industries by 160.9% during the 2nd quarter. Credit Agricole S A now owns 167 shares of the company’s stock worth $32,000 after acquiring an additional 103 shares during the period. Finally, KB Financial Partners LLC acquired a new position in Mohawk Industries in the 1st quarter valued at $34,000. Institutional investors own 74.81% of the company’s stock.

Mohawk Industries Company Profile

Mohawk Industries, Inc engages in the manufacture, design, and distribution of residential and commercial flooring products. It operates through the following segments: Global Ceramic, Flooring North America (NA), and Flooring Rest of the World (ROW). The Global Ceramic segment comprises ceramic, porcelain, and natural stone tile products used for wall and floor applications.

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

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