Mohawk Industries, Inc. Forecasted to Post Q1 2018 Earnings of $2.98 Per Share (MHK)

Mohawk Industries, Inc. (NYSE:MHK) – Investment analysts at Jefferies Group lowered their Q1 2018 earnings per share estimates for shares of Mohawk Industries in a research report issued on Monday. Jefferies Group analyst P. Ng now expects that the company will earn $2.98 per share for the quarter, down from their previous estimate of $2.99. Jefferies Group has a “Buy” rating and a $330.00 price target on the stock. Jefferies Group also issued estimates for Mohawk Industries’ Q4 2018 earnings at $4.03 EPS and FY2019 earnings at $16.79 EPS.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 8th. The company reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.10. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. Mohawk Industries had a return on equity of 15.44% and a net margin of 10.24%. Mohawk Industries’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the company earned $3.26 earnings per share.

A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Nomura set a $300.00 price target on Mohawk Industries and gave the stock a “buy” rating in a research report on Friday, October 27th. Royal Bank of Canada restated an “outperform” rating and issued a $300.00 price target (up from $291.00) on shares of Mohawk Industries in a research report on Monday, October 30th. ValuEngine upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Barclays raised 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. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $295.62.

Shares of Mohawk Industries (NYSE MHK) opened at $254.55 on Tuesday. The stock has a market capitalization of $18,539.88, a price-to-earnings ratio of 19.61, a P/E/G ratio of 2.04 and a beta of 1.26. Mohawk Industries has a 52-week low of $219.22 and a 52-week high of $286.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.53 and a quick ratio of 0.80.

Several large investors have recently added to or reduced their stakes in the company. Oakbrook Investments LLC lifted its position in shares of Mohawk Industries by 4.2% during the fourth quarter. Oakbrook Investments LLC now owns 4,540 shares of the company’s stock worth $1,253,000 after purchasing an additional 185 shares during the last quarter. Zions Bancorporation lifted its position in shares of 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 last quarter. Nisa Investment Advisors LLC lifted its position in shares of Mohawk Industries by 0.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 30,845 shares of the company’s stock worth $8,510,000 after purchasing an additional 200 shares during the last quarter. Catalyst Capital Advisors LLC lifted its position in shares of Mohawk Industries by 2.9% during the fourth quarter. Catalyst Capital Advisors LLC now owns 7,200 shares of the company’s stock worth $1,986,000 after purchasing an additional 200 shares during the last quarter. Finally, New Mexico Educational Retirement Board lifted its position in shares of Mohawk Industries by 3.4% during the fourth quarter. New Mexico Educational Retirement Board now owns 6,100 shares of the company’s stock worth $1,683,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 76.51% of the company’s stock.

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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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