$3.60 EPS Expected for Mohawk Industries, Inc. (MHK) This Quarter

Equities analysts forecast that Mohawk Industries, Inc. (NYSE:MHK) will report earnings of $3.60 per share for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Mohawk Industries’ earnings, with the lowest EPS estimate coming in at $3.58 and the highest estimate coming in at $3.62. Mohawk Industries posted earnings per share of $3.47 during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.7%. The company is expected to issue its next earnings results after the market closes on Thursday, August 3rd.

On average, analysts expect that Mohawk Industries will report full year earnings of $13.34 per share for the current fiscal year, with EPS estimates ranging from $13.07 to $13.60. For the next year, analysts anticipate that the business will report earnings of $14.44 per share, with EPS estimates ranging from $13.95 to $15.20. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Mohawk Industries.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, April 27th. The company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.01. Mohawk Industries had a net margin of 10.65% and a return on equity of 16.88%. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the business posted $2.38 earnings per share. Mohawk Industries’s revenue for the quarter was up 2.2% on a year-over-year basis.

Several research analysts have weighed in on MHK shares. Nomura started coverage on Mohawk Industries in a research note on Wednesday, April 12th. They issued a “buy” rating and a $280.00 price target for the company. BidaskClub upgraded Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. MKM Partners reiterated a “buy” rating and set a $255.00 target price on shares of Mohawk Industries in a research report on Tuesday, April 18th. Instinet reiterated a “buy” rating and set a $280.00 target price on shares of Mohawk Industries in a research report on Friday, April 14th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $267.00 target price on shares of Mohawk Industries in a research report on Monday, May 1st. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $261.64.

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Shares of Mohawk Industries (NYSE:MHK) traded up 0.36% during midday trading on Monday, reaching $246.64. 368,822 shares of the company’s stock traded hands. The firm’s market capitalization is $18.33 billion. Mohawk Industries has a one year low of $175.52 and a one year high of $248.24. The stock’s 50-day moving average price is $238.46 and its 200 day moving average price is $225.09.

In related news, Director Cock Frans Georges De sold 1,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 13,016 shares in the company, valued at $3,101,322.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Rodney David Patton sold 387 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $242.00, for a total value of $93,654.00. Following the completion of the sale, the vice president now owns 7,061 shares of the company’s stock, valued at $1,708,762. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,587 shares of company stock valued at $1,823,768. 17.10% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Mohawk Industries by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,987,177 shares of the company’s stock worth $1,373,997,000 after buying an additional 185,698 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Mohawk Industries by 3.6% in the first quarter. JPMorgan Chase & Co. now owns 4,616,502 shares of the company’s stock worth $1,059,441,000 after buying an additional 159,231 shares in the last quarter. BlackRock Inc. increased its stake in shares of Mohawk Industries by 3,286.0% in the first quarter. BlackRock Inc. now owns 4,324,509 shares of the company’s stock worth $992,431,000 after buying an additional 4,196,790 shares in the last quarter. FMR LLC increased its stake in shares of Mohawk Industries by 5.5% in the first quarter. FMR LLC now owns 2,690,837 shares of the company’s stock worth $617,520,000 after buying an additional 139,080 shares in the last quarter. Finally, Egerton Capital UK LLP increased its stake in shares of Mohawk Industries by 3.1% in the first quarter. Egerton Capital UK LLP now owns 1,432,719 shares of the company’s stock worth $328,795,000 after buying an additional 42,925 shares in the last quarter. Institutional investors own 77.54% of the company’s stock.

About Mohawk Industries

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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