$2.45 Billion in Sales Expected for Mohawk Industries, Inc. (MHK) This Quarter

Equities analysts expect Mohawk Industries, Inc. (NYSE:MHK) to announce $2.45 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Mohawk Industries’ earnings, with estimates ranging from $2.41 billion to $2.49 billion. Mohawk Industries posted sales of $2.37 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.4%. The firm is expected to report its next quarterly earnings results on Thursday, February 14th.

On average, analysts expect that Mohawk Industries will report full year sales of $9.98 billion for the current fiscal year, with estimates ranging from $9.91 billion to $10.02 billion. For the next year, analysts anticipate that the firm will report sales of $10.41 billion, with estimates ranging from $10.17 billion to $10.67 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Mohawk Industries.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, October 25th. The company reported $3.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.58 by ($0.29). Mohawk Industries had a return on equity of 13.49% and a net margin of 8.81%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion.

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Mohawk Industries from $160.00 to $105.00 and set an “underweight” rating for the company in a research report on Monday, October 29th. Royal Bank of Canada downgraded Mohawk Industries from an “outperform” rating to a “sector perform” rating and set a $190.00 price objective for the company. in a research report on Monday, October 15th. Loop Capital lowered their price objective on Mohawk Industries to $165.00 and set a “hold” rating for the company in a research report on Tuesday, October 16th. They noted that the move was a valuation call. Robert W. Baird set a $192.00 price objective on Mohawk Industries and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Finally, Stifel Nicolaus downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Monday, October 29th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $171.63.

In other Mohawk Industries news, VP Rodney David Patton sold 763 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $125.27, for a total value of $95,581.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bernard Thiers sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $190.00, for a total value of $950,000.00. Following the completion of the sale, the insider now directly owns 40,156 shares of the company’s stock, valued at approximately $7,629,640. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 340,898 shares of company stock valued at $40,917,073 and sold 29,805 shares valued at $4,918,906. Insiders own 16.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. WESPAC Advisors SoCal LLC acquired a new stake in Mohawk Industries in the third quarter valued at approximately $105,000. Qube Research & Technologies Ltd acquired a new stake in Mohawk Industries in the second quarter valued at approximately $110,000. SRS Capital Advisors Inc. acquired a new stake in Mohawk Industries in the third quarter valued at approximately $118,000. Amica Retiree Medical Trust grew its stake in Mohawk Industries by 134.3% in the third quarter. Amica Retiree Medical Trust now owns 848 shares of the company’s stock valued at $149,000 after acquiring an additional 486 shares during the period. Finally, Captrust Financial Advisors grew its stake in Mohawk Industries by 2,250.0% in the second quarter. Captrust Financial Advisors now owns 705 shares of the company’s stock valued at $151,000 after acquiring an additional 675 shares during the period. 78.20% of the stock is owned by hedge funds and other institutional investors.

Shares of MHK traded up $1.71 during mid-day trading on Monday, reaching $123.01. 105,029 shares of the company were exchanged, compared to its average volume of 914,657. Mohawk Industries has a 52 week low of $113.45 and a 52 week high of $284.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 0.79. The company has a market capitalization of $9.00 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 1.48 and a beta of 1.61.

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

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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