Mohawk Industries, Inc. (MHK) Expected to Earn FY2017 Earnings of $13.52 Per Share
Mohawk Industries, Inc. (NYSE:MHK) – Analysts at Jefferies Group issued their FY2017 earnings per share (EPS) estimates for Mohawk Industries in a research note issued to investors on Tuesday. Jefferies Group analyst P. Ng expects that the company will earn $13.52 per share for the year. Jefferies Group has a “Buy” rating and a $330.00 price objective on the stock. Jefferies Group also issued estimates for Mohawk Industries’ FY2018 earnings at $14.81 EPS and FY2019 earnings at $16.88 EPS.
A number of other research analysts also recently issued reports on the company. Barclays lifted their price target on Mohawk Industries from $285.00 to $301.00 and gave the company an “overweight” rating in a report on Monday, October 30th. J P Morgan Chase & Co lifted their price target on Mohawk Industries from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 price target (up from $291.00) on shares of Mohawk Industries in a report on Monday, October 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $270.00 price target on shares of Mohawk Industries in a report on Sunday, October 29th. Finally, Nomura set a $300.00 price target on Mohawk Industries and gave the company a “buy” rating in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $285.15.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, October 26th. The company reported $3.75 EPS for the quarter, topping the consensus estimate of $3.74 by $0.01. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.46 billion. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. Mohawk Industries’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted $3.50 EPS.
Hedge funds have recently made changes to their positions in the stock. Sun Life Financial INC grew its stake in Mohawk Industries by 5,675.0% during the 2nd quarter. Sun Life Financial INC now owns 462 shares of the company’s stock worth $112,000 after buying an additional 454 shares during the last quarter. First Personal Financial Services lifted its position in Mohawk Industries by 6.6% during the 2nd 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 lifted its position in Mohawk Industries by 18.6% during the 2nd 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 acquired a new stake in Mohawk Industries during the 2nd quarter worth about $203,000. Finally, Teacher Retirement System of Texas acquired a new stake in Mohawk Industries during the 3rd quarter worth about $212,000. Hedge funds and other institutional investors own 76.59% 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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