Mohawk Industries (MHK) Expected to Post Quarterly Sales of $2.62 Billion

Analysts forecast that Mohawk Industries (NYSE:MHK) will report $2.62 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Mohawk Industries’ earnings. The highest sales estimate is $2.66 billion and the lowest is $2.57 billion. Mohawk Industries posted sales of $2.45 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.9%. The firm is scheduled to issue its next earnings report on Thursday, July 26th.

According to Zacks, analysts expect that Mohawk Industries will report full-year sales of $10.28 billion for the current fiscal year, with estimates ranging from $10.13 billion to $10.48 billion. For the next financial year, analysts expect that the company will post sales of $10.90 billion per share, with estimates ranging from $10.62 billion to $11.04 billion. Zacks’ sales averages are a mean average based on a survey of 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 EPS for the quarter, topping the Zacks’ consensus estimate of $3.00 by $0.01. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Mohawk Industries had a return on equity of 15.05% and a net margin of 10.12%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.72 EPS.

A number of equities analysts have commented on the company. ValuEngine cut Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. JPMorgan Chase & Co. reduced their target price on Mohawk Industries from $282.00 to $250.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 1st. Barclays set a $278.00 target price on Mohawk Industries and gave the company a “buy” rating in a research note on Monday, April 30th. Royal Bank of Canada reduced their target price on Mohawk Industries to $284.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 1st. Finally, Robert W. Baird set a $272.00 target price on Mohawk Industries and gave the company a “buy” rating in a research note on Monday, April 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $280.67.

In related news, insider John C. Turner, Jr. sold 944 shares of Mohawk Industries stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $244.62, for a total transaction of $230,921.28. Following the sale, the insider now directly owns 10,412 shares in the company, valued at $2,546,983.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Rodney David Patton sold 911 shares of Mohawk Industries stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $236.00, for a total value of $214,996.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 102,157 shares of company stock worth $21,387,408 and have sold 8,505 shares worth $2,063,451. Insiders own 16.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MHK. Schwab Charles Investment Management Inc. boosted its position in shares of Mohawk Industries by 4.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 221,291 shares of the company’s stock valued at $61,055,000 after purchasing an additional 8,927 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Mohawk Industries by 38.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 5,920 shares of the company’s stock valued at $1,633,000 after purchasing an additional 1,642 shares in the last quarter. PGGM Investments boosted its position in shares of Mohawk Industries by 35.5% during the fourth quarter. PGGM Investments now owns 87,000 shares of the company’s stock valued at $24,003,000 after purchasing an additional 22,799 shares in the last quarter. TIAA FSB bought a new stake in shares of Mohawk Industries during the fourth quarter valued at approximately $3,129,000. Finally, Congress Asset Management Co. MA boosted its position in shares of Mohawk Industries by 2.0% during the fourth quarter. Congress Asset Management Co. MA now owns 19,667 shares of the company’s stock valued at $5,426,000 after purchasing an additional 380 shares in the last quarter. Institutional investors own 78.50% of the company’s stock.

Shares of Mohawk Industries stock opened at $204.04 on Friday. 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 $15.71 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.33 and a beta of 1.38. Mohawk Industries has a one year low of $203.87 and a one year high of $286.85.

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

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