Mohawk Industries, Inc. to Post FY2018 Earnings of $15.70 Per Share, Northcoast Research Forecasts (MHK)

Mohawk Industries, Inc. (NYSE:MHK) – Stock analysts at Northcoast Research raised their FY2018 earnings per share (EPS) estimates for Mohawk Industries in a research report issued to clients and investors on Tuesday. Northcoast Research analyst K. Hocevar now expects that the company will post earnings per share of $15.70 for the year, up from their previous forecast of $14.75.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 8th. The company reported $3.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.32 by $0.10. The firm had revenue of $2.37 billion for 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%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.26 EPS.

Several other equities research analysts also recently issued reports on MHK. Zacks Investment Research downgraded Mohawk Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. SunTrust Banks reiterated a “buy” rating and issued a $275.00 price objective on shares of Mohawk Industries in a report on Friday, October 27th. Nomura set a $300.00 price objective on Mohawk Industries and gave the company a “buy” rating in a report on Friday, October 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $270.00 price objective on shares of Mohawk Industries in a report on Sunday, October 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 price objective (up previously from $291.00) on shares of Mohawk Industries in a report on Monday, October 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Mohawk Industries currently has a consensus rating of “Buy” and an average target price of $295.62.

Mohawk Industries (NYSE MHK) traded down $1.71 during mid-day trading on Thursday, hitting $251.79. The company had a trading volume of 297,697 shares, compared to its average volume of 713,637. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.53 and a quick ratio of 0.80. The stock has a market cap of $18,675.14, a P/E ratio of 19.35, a PEG ratio of 1.78 and a beta of 1.26. Mohawk Industries has a 52-week low of $219.22 and a 52-week high of $286.85.

A number of hedge funds and other institutional investors have recently modified their holdings of MHK. NuWave Investment Management LLC acquired a new position in shares of Mohawk Industries during the 4th quarter worth about $117,000. Cerebellum GP LLC acquired a new position in shares of Mohawk Industries during the 4th quarter worth about $124,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Mohawk Industries during the 4th quarter worth about $124,000. Calton & Associates Inc. acquired a new position in shares of Mohawk Industries during the 4th quarter worth about $171,000. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Mohawk Industries during the 4th quarter worth about $174,000. 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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