Mohawk Industries, Inc. (NYSE:MHK) – Equities researchers at Jefferies Group boosted their FY2018 earnings per share estimates for Mohawk Industries in a research report issued on Wednesday. Jefferies Group analyst P. Ng now anticipates that the company will earn $15.86 per share for the year, up from their previous forecast of $14.81. Jefferies Group has a “Buy” rating and a $330.00 price objective on the stock. Jefferies Group also issued estimates for Mohawk Industries’ FY2019 earnings at $18.08 EPS.

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

Several other research analysts have also weighed in on the company. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $312.00 price target on the stock in a research report on Friday. ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Barclays boosted 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. JPMorgan Chase & Co. boosted their price target on Mohawk Industries from $250.00 to $285.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price target (up previously from $291.00) on shares of Mohawk Industries in a research report on Monday, October 30th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $293.00.

Shares of Mohawk Industries (NYSE MHK) traded up $0.33 during trading on Friday, reaching $278.13. The company had a trading volume of 339,500 shares, compared to its average volume of 540,958. The firm has a market cap of $20,770.00, a price-to-earnings ratio of 21.54, a PEG ratio of 2.28 and a beta of 1.37. Mohawk Industries has a 1-year low of $204.51 and a 1-year high of $286.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Mohawk Industries by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,184,173 shares of the company’s stock worth $1,494,654,000 after acquiring an additional 196,996 shares during the last quarter. FMR LLC increased its holdings in shares of Mohawk Industries by 3.9% during the 2nd quarter. FMR LLC now owns 2,796,757 shares of the company’s stock worth $675,948,000 after acquiring an additional 105,920 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. increased its holdings in shares of Mohawk Industries by 4.9% during the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 1,377,558 shares of the company’s stock worth $340,959,000 after acquiring an additional 64,707 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Mohawk Industries by 4.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,119,683 shares of the company’s stock valued at $277,137,000 after purchasing an additional 47,261 shares during the period. Finally, Third Point LLC boosted its stake in Mohawk Industries by 2.9% in the 3rd quarter. Third Point LLC now owns 900,000 shares of the company’s stock valued at $222,759,000 after purchasing an additional 25,000 shares during the period. 76.55% of the stock is currently owned by institutional investors and hedge funds.

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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.

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

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