Mohawk Industries, Inc. (NYSE:MHK) – Equities research analysts at Northcoast Research raised their Q1 2018 earnings estimates for shares of Mohawk Industries in a report released on Tuesday. Northcoast Research analyst K. Hocevar now forecasts that the company will post earnings of $3.00 per share for the quarter, up from their previous forecast of $2.85. Northcoast Research also issued estimates for Mohawk Industries’ Q2 2018 earnings at $4.11 EPS, Q3 2018 earnings at $4.49 EPS, Q4 2018 earnings at $4.10 EPS and FY2019 earnings at $17.15 EPS.
MHK has been the subject of a number of other reports. Barclays increased their price target on Mohawk Industries from $285.00 to $301.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. ValuEngine upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Credit Suisse Group restated an “outperform” rating and set a $310.00 target price (up from $303.00) on shares of Mohawk Industries in a report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded Mohawk Industries from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a report on Monday, January 8th. Finally, Nomura set a $300.00 target price on Mohawk Industries and gave the company a “buy” rating in a report on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Mohawk Industries has an average rating of “Buy” and an average target price of $295.62.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, February 8th. The company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.10. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Mohawk Industries had a return on equity of 15.44% and a net margin of 10.24%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.26 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the company. NuWave Investment Management LLC purchased a new position in shares of Mohawk Industries in the 4th quarter valued at about $117,000. Cerebellum GP LLC purchased a new position in shares of Mohawk Industries in the 4th quarter valued at about $124,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Mohawk Industries in the 4th quarter valued at about $124,000. Calton & Associates Inc. purchased a new position in shares of Mohawk Industries in the 4th quarter valued at about $171,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Mohawk Industries in the 4th quarter valued at about $174,000. Institutional investors and hedge funds 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.
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