Mohawk Industries, Inc. (MHK) Scheduled to Post Quarterly Earnings on Thursday
Mohawk Industries, Inc. (NYSE:MHK) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, October 26th. Analysts expect the company to announce earnings of $3.75 per share for the quarter. Mohawk Industries has set its Q3 guidance at $3.70-3.79 EPS.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, July 27th. The company reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.12. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.45 billion. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.47 earnings per share. On average, analysts expect Mohawk Industries to post $13.49 EPS for the current fiscal year and $14.72 EPS for the next fiscal year.
Mohawk Industries, Inc. (NYSE:MHK) opened at 260.00 on Thursday. The firm’s market cap is $19.33 billion. The stock has a 50 day moving average price of $253.90 and a 200-day moving average price of $243.74. Mohawk Industries, Inc. has a one year low of $175.52 and a one year high of $260.69.
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In other Mohawk Industries news, VP Rodney David Patton sold 137 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $246.78, for a total value of $33,808.86. Following the sale, the vice president now owns 6,924 shares in the company, valued at approximately $1,708,704.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $5,022,515.00. Following the completion of the sale, the chairman now owns 21,396 shares in the company, valued at approximately $5,454,910.20. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.
MHK has been the topic of several recent analyst reports. ValuEngine upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Northcoast Research initiated coverage on Mohawk Industries in a report on Thursday, October 5th. They set a “buy” rating and a $295.00 price objective on the stock. Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Cleveland Research cut Mohawk Industries from a “buy” rating to a “neutral” rating in a report on Friday, September 22nd. Finally, MKM Partners reiterated a “buy” rating and set a $286.00 price objective (up previously from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $273.55.
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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