Equities analysts expect Mohawk Industries, Inc. (NYSE:MHK) to report earnings of $3.60 per share for the current quarter, according to Zacks. Six analysts have provided estimates for Mohawk Industries’ earnings, with the highest EPS estimate coming in at $3.62 and the lowest estimate coming in at $3.58. Mohawk Industries reported earnings per share of $3.47 during the same quarter last year, which indicates a positive year-over-year growth rate of 3.7%. The company is expected to announce its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Mohawk Industries will report full year earnings of $13.32 per share for the current fiscal year, with EPS estimates ranging from $13.07 to $13.60. For the next fiscal year, analysts anticipate that the company will report earnings of $14.43 per share, with EPS estimates ranging from $13.95 to $15.20. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Mohawk Industries.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, April 27th. The company reported $2.72 EPS for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.01. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. Mohawk Industries had a return on equity of 16.88% and a net margin of 10.65%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.38 EPS.
MHK has been the topic of a number of recent analyst reports. Nomura initiated coverage on Mohawk Industries in a research report on Wednesday, April 12th. They set a “buy” rating and a $280.00 price target on the stock. Instinet reissued a “buy” rating and set a $280.00 price target on shares of Mohawk Industries in a research report on Friday, April 14th. MKM Partners reissued a “buy” rating and set a $255.00 price target on shares of Mohawk Industries in a research report on Tuesday, April 18th. Royal Bank Of Canada reissued a “buy” rating and set a $267.00 price target on shares of Mohawk Industries in a research report on Monday, May 1st. Finally, Stifel Nicolaus boosted their price target on Mohawk Industries from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Mohawk Industries currently has a consensus rating of “Buy” and a consensus price target of $256.50.
Shares of Mohawk Industries (MHK) traded down 0.23% on Wednesday, hitting $241.93. The stock had a trading volume of 349,636 shares. Mohawk Industries has a one year low of $175.52 and a one year high of $245.90. The firm’s 50 day moving average is $235.75 and its 200-day moving average is $222.02. The stock’s market capitalization is $17.98 billion.
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In other news, insider Suzanne L. Helen sold 6,200 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $240.62, for a total transaction of $1,491,844.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Cock Frans Georges De sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $238.27, for a total value of $238,270.00. Following the sale, the director now owns 13,016 shares of the company’s stock, valued at approximately $3,101,322.32. The disclosure for this sale can be found here. Insiders own 17.10% of the company’s stock.
Large investors have recently modified their holdings of the company. Washington Trust Bank boosted its stake in shares of Mohawk Industries by 81.1% in the first quarter. Washington Trust Bank now owns 480 shares of the company’s stock worth $110,000 after buying an additional 215 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock worth $121,000 after buying an additional 28 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Mohawk Industries during the first quarter worth about $179,000. Westport Asset Management Inc. purchased a new stake in shares of Mohawk Industries during the fourth quarter worth about $160,000. Finally, Bahl & Gaynor Inc. purchased a new stake in shares of Mohawk Industries during the first quarter worth about $202,000. Institutional investors own 77.54% of the company’s stock.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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