Mohawk Industries, Inc. Forecasted to Earn Q2 2018 Earnings of $4.02 Per Share (MHK)

Mohawk Industries, Inc. (NYSE:MHK) – Equities researchers at Jefferies Group upped their Q2 2018 earnings per share (EPS) estimates for Mohawk Industries in a note issued to investors on Monday. Jefferies Group analyst P. Ng now forecasts that the company will post earnings of $4.02 per share for the quarter, up from their previous estimate of $3.95. Jefferies Group has a “Buy” rating and a $330.00 price target on the stock. Jefferies Group also issued estimates for Mohawk Industries’ Q3 2018 earnings at $4.44 EPS and FY2018 earnings at $15.47 EPS.

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

Several other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Mohawk Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Nomura set a $300.00 target price on shares of Mohawk Industries and gave the stock a “buy” rating in a report on Friday, October 27th. Royal Bank of Canada restated an “outperform” rating and set a $300.00 target price (up previously from $291.00) on shares of Mohawk Industries in a report on Monday, October 30th. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Barclays increased their target price on shares of Mohawk Industries from $285.00 to $301.00 and gave the stock an “overweight” rating in a 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’s stock. Mohawk Industries presently has an average rating of “Buy” and a consensus target price of $295.62.

Mohawk Industries (NYSE:MHK) opened at $251.28 on Wednesday. Mohawk Industries has a 1-year low of $219.22 and a 1-year high of $286.85. The company has a market cap of $18,918.16, a price-to-earnings ratio of 18.70, a P/E/G ratio of 2.08 and a beta of 1.26. The company has a current ratio of 1.53, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22.

Hedge funds have recently made changes to their positions in the business. NuWave Investment Management LLC acquired a new stake in Mohawk Industries in the fourth quarter valued at $117,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Mohawk Industries in the fourth quarter valued at $124,000. Cerebellum GP LLC acquired a new stake in Mohawk Industries in the fourth quarter valued at $124,000. Calton & Associates Inc. acquired a new stake in Mohawk Industries in the fourth quarter valued at $171,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Mohawk Industries in the fourth quarter valued at $174,000. Hedge funds and other institutional investors own 76.51% of the company’s stock.

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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.

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

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