Wall Street brokerages predict that Mohawk Industries, Inc. (NYSE:MHK) will announce earnings per share (EPS) of $3.59 for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Mohawk Industries’ earnings, with estimates ranging from $3.54 to $3.62. Mohawk Industries reported earnings per share of $3.75 during the same quarter last year, which would suggest a negative year over year growth rate of 4.3%. The firm is scheduled to report its next quarterly earnings results after the market closes on Thursday, October 25th.
According to Zacks, analysts expect that Mohawk Industries will report full year earnings of $13.66 per share for the current financial year, with EPS estimates ranging from $13.50 to $13.77. For the next financial year, analysts forecast that the business will report earnings of $15.04 per share, with EPS estimates ranging from $14.31 to $16.00. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Mohawk Industries.
Mohawk Industries (NYSE:MHK) last released its earnings results on Wednesday, July 25th. The company reported $3.51 EPS for the quarter, missing the Zacks’ consensus estimate of $3.90 by ($0.39). Mohawk Industries had a return on equity of 14.35% and a net margin of 9.34%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same period last year, the firm earned $3.72 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year.
Several brokerages have recently commented on MHK. ValuEngine lowered Mohawk Industries from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 26th. Cleveland Research reaffirmed a “hold” rating on shares of Mohawk Industries in a research report on Wednesday, September 12th. Raymond James downgraded Mohawk Industries from a “strong-buy” rating to an “outperform” rating in a report on Friday, July 27th. Bank of America set a $210.00 price objective on Mohawk Industries and gave the company a “buy” rating in a report on Thursday, October 11th. Finally, Jefferies Financial Group dropped their price target on Mohawk Industries from $294.00 to $268.00 and set a “buy” rating on the stock in a research note on Tuesday, July 31st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Mohawk Industries presently has a consensus rating of “Hold” and a consensus price target of $225.07.
Shares of MHK opened at $155.95 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.74 and a quick ratio of 0.99. The company has a market cap of $13.08 billion, a P/E ratio of 11.46, a PEG ratio of 1.85 and a beta of 1.29. Mohawk Industries has a one year low of $152.56 and a one year high of $286.85.
In other news, Chairman Jeffrey S. Lorberbaum sold 13,400 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $186.74, for a total value of $2,502,316.00. Following the transaction, the chairman now directly owns 45,187 shares of the company’s stock, valued at $8,438,220.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bernard Thiers sold 5,000 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $190.00, for a total transaction of $950,000.00. Following the transaction, the insider now directly owns 40,156 shares in the company, valued at $7,629,640. The disclosure for this sale can be found here. Insiders have bought a total of 110,000 shares of company stock valued at $20,167,250 in the last quarter. Insiders own 16.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd bought a new stake in Mohawk Industries during the second quarter valued at about $110,000. Captrust Financial Advisors lifted its stake in Mohawk Industries by 2,250.0% during the second quarter. Captrust Financial Advisors now owns 705 shares of the company’s stock worth $151,000 after purchasing an additional 675 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in shares of Mohawk Industries during the second quarter worth approximately $159,000. NuWave Investment Management LLC increased its holdings in shares of Mohawk Industries by 686.4% during the second quarter. NuWave Investment Management LLC now owns 810 shares of the company’s stock worth $173,000 after buying an additional 707 shares in the last quarter. Finally, Cerebellum GP LLC increased its holdings in shares of Mohawk Industries by 292.6% during the second quarter. Cerebellum GP LLC now owns 844 shares of the company’s stock worth $181,000 after buying an additional 629 shares in the last quarter. Institutional investors own 81.42% of the company’s stock.
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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