Analysts expect Mohawk Industries, Inc. (NYSE:MHK) to post sales of $2.38 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Mohawk Industries’ earnings, with estimates ranging from $2.34 billion to $2.46 billion. Mohawk Industries posted sales of $2.18 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 9.2%. The firm is expected to announce its next quarterly earnings report on Thursday, February 8th.

On average, analysts expect that Mohawk Industries will report full year sales of $2.38 billion for the current financial year, with estimates ranging from $9.44 billion to $9.58 billion. For the next year, analysts anticipate that the company will post sales of $10.14 billion per share, with estimates ranging from $9.93 billion to $10.37 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Mohawk Industries.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, October 26th. The company reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.74 by $0.01. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. Mohawk Industries’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.50 earnings per share.

A number of brokerages have commented on MHK. Northcoast Research began coverage on Mohawk Industries in a research report on Thursday, October 5th. They issued a “buy” rating and a $295.00 price target for the company. Instinet restated a “buy” rating and issued a $288.00 price target (up previously from $280.00) on shares of Mohawk Industries in a research report on Saturday, September 30th. Barclays upped their price target on Mohawk Industries from $285.00 to $301.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Stifel Nicolaus restated a “buy” rating and issued a $270.00 price target on shares of Mohawk Industries in a research report on Sunday, October 29th. Finally, Nomura restated a “buy” rating and issued a $288.00 price target (up previously from $280.00) on shares of Mohawk Industries in a research report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $281.42.

Shares of Mohawk Industries (MHK) opened at $277.37 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 0.77. The company has a market capitalization of $20,780.00, a PE ratio of 20.86, a price-to-earnings-growth ratio of 2.54 and a beta of 1.37. Mohawk Industries has a 1 year low of $196.50 and a 1 year high of $286.85.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sun Life Financial INC boosted its stake in shares of Mohawk Industries by 5,675.0% in the second quarter. Sun Life Financial INC now owns 462 shares of the company’s stock worth $112,000 after acquiring an additional 454 shares during the period. First Personal Financial Services boosted its stake 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 worth $137,000 after acquiring an additional 35 shares during the period. IFP Advisors Inc boosted its stake in shares of Mohawk Industries by 18.6% in the second quarter. IFP Advisors Inc now owns 625 shares of the company’s stock worth $151,000 after acquiring an additional 98 shares during the period. Bridgewater Wealth & Financial Management LLC bought a new position in shares of Mohawk Industries in the second quarter worth about $203,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Mohawk Industries in the third quarter worth about $212,000. 76.59% of the stock is owned by hedge funds and other institutional investors.

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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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Earnings History and Estimates for Mohawk Industries (NYSE:MHK)

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