Wall Street analysts expect that Mohawk Industries, Inc. (NYSE:MHK) will post sales of $2.61 billion for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Mohawk Industries’ earnings, with estimates ranging from $2.57 billion to $2.66 billion. Mohawk Industries posted sales of $2.45 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6.5%. The business is expected to announce its next earnings results on Thursday, October 25th.
According to Zacks, analysts expect that Mohawk Industries will report full year sales of $10.14 billion for the current financial year, with estimates ranging from $10.05 billion to $10.24 billion. For the next financial year, analysts forecast that the company will post sales of $10.74 billion per share, with estimates ranging from $10.49 billion to $10.93 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Mohawk Industries.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Wednesday, July 25th. The company reported $3.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.90 by ($0.39). The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Mohawk Industries had a net margin of 9.34% and a return on equity of 14.35%. Mohawk Industries’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.72 EPS.
Several equities research analysts have weighed in on the company. SunTrust Banks restated a “buy” rating and set a $270.00 price target on shares of Mohawk Industries in a report on Friday, July 27th. Zacks Investment Research downgraded Mohawk Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. JPMorgan Chase & Co. cut their price target on Mohawk Industries to $190.00 and set a “neutral” rating on the stock in a report on Monday, July 30th. They noted that the move was a valuation call. Jefferies Financial Group cut their price target on Mohawk Industries from $294.00 to $268.00 and set a “buy” rating on the stock in a report on Tuesday, July 31st. Finally, Raymond James downgraded Mohawk Industries from a “strong-buy” rating to an “outperform” rating in a report on Friday, July 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. Mohawk Industries has an average rating of “Buy” and an average target price of $254.07.
Shares of MHK stock traded down $2.74 on Monday, hitting $193.24. The stock had a trading volume of 43,602 shares, compared to its average volume of 960,184. The company has a current ratio of 1.74, a quick ratio of 0.99 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $14.39 billion, a PE ratio of 14.26, a P/E/G ratio of 2.03 and a beta of 1.30. Mohawk Industries has a 1 year low of $177.00 and a 1 year high of $286.85.
In other news, insider Bernard Thiers sold 10,000 shares of the company’s stock in a transaction dated Friday, June 15th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Filip Balcaen acquired 25,000 shares of the stock in a transaction dated Friday, August 3rd. The shares were acquired at an average cost of $183.45 per share, with a total value of $4,586,250.00. Following the completion of the transaction, the director now owns 776 shares in the company, valued at approximately $142,357.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 110,000 shares of company stock valued at $20,167,250. Insiders own 16.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MHK. Trellus Management Company LLC acquired a new stake in shares of Mohawk Industries in the 1st quarter valued at about $1,208,000. Hennessy Advisors Inc. boosted its position in shares of Mohawk Industries by 146.1% in the 1st quarter. Hennessy Advisors Inc. now owns 5,340 shares of the company’s stock valued at $1,240,000 after purchasing an additional 3,170 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its position in shares of Mohawk Industries by 96.1% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 5,934 shares of the company’s stock valued at $1,352,000 after purchasing an additional 2,908 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Mohawk Industries in the 1st quarter valued at about $206,000. Finally, Comerica Bank boosted its position in shares of Mohawk Industries by 35.6% in the 1st quarter. Comerica Bank now owns 22,250 shares of the company’s stock valued at $5,362,000 after purchasing an additional 5,846 shares during the period. 81.58% of the stock is owned by institutional investors and hedge funds.
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).
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