Zacks: Analysts Anticipate Mohawk Industries, Inc. (MHK) Will Post Earnings of $3.30 Per Share
Equities research analysts expect Mohawk Industries, Inc. (NYSE:MHK) to announce earnings per share of $3.30 for the current quarter, Zacks reports. Six analysts have made estimates for Mohawk Industries’ earnings, with the highest EPS estimate coming in at $3.37 and the lowest estimate coming in at $3.12. Mohawk Industries reported earnings per share of $3.26 in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.2%. The business is expected to announce its next earnings results on Thursday, February 8th.
On average, analysts expect that Mohawk Industries will report full year earnings of $13.49 per share for the current fiscal year, with EPS estimates ranging from $13.30 to $13.56. For the next financial year, analysts forecast that the business will report earnings of $14.63 per share, with EPS estimates ranging from $14.08 to $15.35. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Mohawk Industries.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, October 26th. The company reported $3.75 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.01. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the firm earned $3.50 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year.
MHK has been the topic of a number of research reports. BidaskClub upgraded Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $267.00 price objective on shares of Mohawk Industries in a research note on Monday, July 24th. MKM Partners reiterated a “buy” rating and issued a $286.00 price objective (up from $255.00) on shares of Mohawk Industries in a research note on Wednesday, August 2nd. Zacks Investment Research cut Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $279.15.
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The stock has a market capitalization of $19.16 billion, a P/E ratio of 19.17 and a beta of 1.35.
In related news, VP Rodney David Patton sold 137 shares of the stock in a transaction 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 transaction, the vice president now owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total value of $5,022,515.00. Following the transaction, the chairman now directly owns 21,396 shares in the company, valued at approximately $5,454,910.20. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC grew its holdings in shares of Mohawk Industries by 399.2% during the second quarter. Janus Henderson Group PLC now owns 34,392 shares of the company’s stock worth $8,312,000 after purchasing an additional 27,503 shares during the last quarter. Aviva PLC grew its holdings in shares of Mohawk Industries by 1.1% during the second quarter. Aviva PLC now owns 38,875 shares of the company’s stock worth $9,396,000 after purchasing an additional 410 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Mohawk Industries during the second quarter worth about $53,508,000. Utah Retirement Systems grew its holdings in shares of Mohawk Industries by 0.9% during the second quarter. Utah Retirement Systems now owns 11,397 shares of the company’s stock worth $2,754,000 after purchasing an additional 100 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Mohawk Industries by 3.2% during the second quarter. Swiss National Bank now owns 230,474 shares of the company’s stock worth $55,703,000 after purchasing an additional 7,100 shares during the last quarter. 76.91% of the stock is currently owned by institutional investors.
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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