$3.77 Earnings Per Share Expected for Mohawk Industries, Inc. (MHK) This Quarter
Analysts expect that Mohawk Industries, Inc. (NYSE:MHK) will announce earnings per share of $3.77 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Mohawk Industries’ earnings, with the highest EPS estimate coming in at $3.79 and the lowest estimate coming in at $3.75. Mohawk Industries posted earnings per share of $3.50 during the same quarter last year, which would suggest a positive year over year growth rate of 7.7%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that Mohawk Industries will report full year earnings of $13.51 per share for the current financial year, with EPS estimates ranging from $13.30 to $13.65. For the next fiscal year, analysts expect that the company will report earnings of $14.69 per share, with EPS estimates ranging from $14.35 to $15.25. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Mohawk Industries.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.60 by $0.12. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. Mohawk Industries’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.47 EPS.
A number of research firms have recently weighed in on MHK. BidaskClub downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Zacks Investment Research lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada restated a “buy” rating and issued a $267.00 price target on shares of Mohawk Industries in a research report on Monday, July 24th. MKM Partners restated a “buy” rating and issued a $286.00 price target (up from $255.00) on shares of Mohawk Industries in a research report on Wednesday, August 2nd. Finally, Credit Suisse Group initiated coverage on shares of Mohawk Industries in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 price target on the stock. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $266.64.
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Mohawk Industries (NYSE:MHK) traded down 1.19% during mid-day trading on Thursday, hitting $252.53. The stock had a trading volume of 647,460 shares. The firm’s 50-day moving average is $248.49 and its 200 day moving average is $238.48. The stock’s market cap is $18.77 billion. Mohawk Industries has a one year low of $175.52 and a one year high of $256.33.
In related news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the completion of the sale, the chairman now directly owns 21,396 shares of the company’s stock, valued at $5,454,910.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 27,424 shares of company stock valued at $6,880,092. 17.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Sun Life Financial INC grew its holdings in Mohawk Industries by 5,675.0% during the second quarter. Sun Life Financial INC now owns 462 shares of the company’s stock valued at $112,000 after purchasing an additional 454 shares during the period. IFP Advisors Inc boosted its holdings in shares of Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock valued at $121,000 after buying an additional 28 shares during the period. First Personal Financial Services boosted its holdings in shares of Mohawk Industries by 6.6% in the second quarter. First Personal Financial Services now owns 568 shares of the company’s stock valued at $137,000 after buying an additional 35 shares during the period. First Manhattan Co. acquired a new position in shares of Mohawk Industries in the second quarter valued at approximately $160,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Mohawk Industries in the first quarter valued at approximately $179,000. Hedge funds and other institutional investors own 76.97% 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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