Wall Street analysts predict that Mohawk Industries, Inc. (NYSE:MHK) will announce sales of $2.38 billion for the current quarter, according to Zacks. Seven analysts have made estimates for Mohawk Industries’ earnings, with estimates ranging from $2.34 billion to $2.46 billion. Mohawk Industries reported sales of $2.18 billion during the same quarter last year, which would suggest a positive year over year growth rate of 9.2%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Thursday, February 8th.

According to Zacks, analysts expect that Mohawk Industries will report full year sales of $2.38 billion for the current fiscal year, with estimates ranging from $9.44 billion to $9.58 billion. For the next year, analysts forecast that the company will report sales of $10.16 billion per share, with estimates ranging from $9.93 billion to $10.37 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Mohawk Industries.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, October 26th. The company reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.50 EPS.

A number of equities analysts have recently weighed in on MHK shares. Jefferies Group started coverage on Mohawk Industries in a report on Tuesday, December 12th. They issued a “buy” rating and a $330.00 target price on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $270.00 target price on shares of Mohawk Industries in a report on Sunday, October 29th. Nomura set a $300.00 price target on Mohawk Industries and gave the company a “buy” rating in a research note on Friday, October 27th. SunTrust Banks reissued a “buy” rating and issued a $275.00 price target on shares of Mohawk Industries in a research note on Friday, October 27th. Finally, Northcoast Research initiated coverage on Mohawk Industries in a research note on Thursday, October 5th. They issued a “buy” rating and a $295.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Mohawk Industries has a consensus rating of “Buy” and a consensus target price of $292.83.

Shares of Mohawk Industries (NYSE MHK) traded up $0.42 on Tuesday, hitting $274.49. The stock had a trading volume of 506,700 shares, compared to its average volume of 524,147. The firm has a market cap of $20,410.00, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 2.25 and a beta of 1.37. Mohawk Industries has a one year low of $200.74 and a one year high of $286.85. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.23.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC grew its stake in shares of Mohawk Industries by 0.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,035 shares of the company’s stock valued at $492,000 after buying an additional 15 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in Mohawk Industries by 3.0% during the second quarter. Thrivent Financial For Lutherans now owns 2,390 shares of the company’s stock worth $578,000 after purchasing an additional 70 shares during the period. Raymond James Trust N.A. boosted its position in Mohawk Industries by 10.3% during the second quarter. Raymond James Trust N.A. now owns 1,324 shares of the company’s stock worth $320,000 after purchasing an additional 124 shares during the period. Mutual of America Capital Management LLC boosted its position in Mohawk Industries by 2.5% during the second quarter. Mutual of America Capital Management LLC now owns 7,669 shares of the company’s stock worth $1,854,000 after purchasing an additional 185 shares during the period. Finally, Zions Bancorporation boosted its position in Mohawk Industries by 6.5% during the third quarter. Zions Bancorporation now owns 3,210 shares of the company’s stock worth $795,000 after purchasing an additional 196 shares during the period. 76.55% of the stock is owned by institutional investors and hedge funds.

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

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