Mohawk Industries, Inc. to Post Q3 2018 Earnings of $4.50 Per Share, SunTrust Banks Forecasts (MHK)

Mohawk Industries, Inc. (NYSE:MHK) – SunTrust Banks boosted their Q3 2018 earnings per share (EPS) estimates for Mohawk Industries in a report issued on Monday. SunTrust Banks analyst K. Hughes now expects that the company will post earnings per share of $4.50 for the quarter, up from their prior estimate of $4.09. SunTrust Banks has a “Buy” rating and a $275.00 price target on the stock. SunTrust Banks also issued estimates for Mohawk Industries’ FY2018 earnings at $15.77 EPS.

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

MHK has been the subject of several other reports. Jefferies Group began coverage on Mohawk Industries in a research note on Tuesday, December 12th. They issued a “buy” rating and a $330.00 price objective for the company. Barclays raised their price objective on Mohawk Industries from $285.00 to $301.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. Credit Suisse Group restated an “outperform” rating and issued a $310.00 price objective (up from $303.00) on shares of Mohawk Industries in a research note on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $312.00 target price on the stock in a report on Friday, January 19th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $270.00 target price on shares of Mohawk Industries in a report on Sunday, October 29th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $295.62.

Mohawk Industries (MHK) opened at $251.28 on Wednesday. Mohawk Industries has a 12 month low of $219.22 and a 12 month high of $286.85. The stock has a market capitalization of $18,918.16, a PE ratio of 18.70, a PEG ratio of 2.08 and a beta of 1.26. The company has a quick ratio of 0.80, a current ratio of 1.53 and a debt-to-equity ratio of 0.22.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Mohawk Industries by 10.4% during the fourth quarter. BlackRock Inc. now owns 5,046,157 shares of the company’s stock worth $1,392,234,000 after acquiring an additional 477,056 shares during the period. Ruane Cunniff & Goldfarb Inc. grew its holdings in Mohawk Industries by 4.9% in the third quarter. Ruane Cunniff & Goldfarb Inc. now owns 1,377,558 shares of the company’s stock valued at $340,959,000 after purchasing an additional 64,707 shares during the period. Dimensional Fund Advisors LP grew its holdings in Mohawk Industries by 4.4% in the third 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. Wells Fargo & Company MN grew its holdings in Mohawk Industries by 16.2% in the fourth quarter. Wells Fargo & Company MN now owns 1,013,789 shares of the company’s stock valued at $279,705,000 after purchasing an additional 141,022 shares during the period. Finally, Third Point LLC grew its holdings in Mohawk Industries by 2.9% in the third 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. 76.51% of the stock is currently owned by hedge funds and other institutional investors.

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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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