Equities research analysts expect Mohawk Industries, Inc. (NYSE:MHK) to report sales of $2.45 billion for the current quarter, according to Zacks. Seven analysts have provided estimates for Mohawk Industries’ earnings, with the lowest sales estimate coming in at $2.41 billion and the highest estimate coming in at $2.49 billion. Mohawk Industries reported sales of $2.37 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The company is scheduled to issue its next quarterly earnings report on Thursday, February 14th.
On average, analysts expect that Mohawk Industries will report full year sales of $9.98 billion for the current year, with estimates ranging from $9.91 billion to $10.02 billion. For the next fiscal year, analysts forecast that the business will post sales of $10.41 billion, with estimates ranging from $10.17 billion to $10.67 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Mohawk Industries.
Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, October 25th. The company reported $3.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.58 by ($0.29). The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. Mohawk Industries had a net margin of 8.81% and a return on equity of 13.49%.
A number of brokerages recently issued reports on MHK. JPMorgan Chase & Co. decreased their target price on Mohawk Industries from $160.00 to $105.00 and set an “underweight” rating for the company in a research report on Monday, October 29th. SunTrust Banks decreased their target price on Mohawk Industries from $270.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Raymond James decreased their target price on Mohawk Industries from $195.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Wells Fargo & Co decreased their target price on Mohawk Industries from $195.00 to $130.00 and set a “market perform” rating for the company in a research report on Monday, October 29th. Finally, Barclays decreased their target price on Mohawk Industries from $215.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Mohawk Industries presently has an average rating of “Hold” and an average price target of $175.06.
Shares of NYSE MHK opened at $125.65 on Friday. The stock has a market capitalization of $9.39 billion, a P/E ratio of 9.23, a PEG ratio of 1.52 and a beta of 1.62. The company has a quick ratio of 0.79, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. Mohawk Industries has a 52-week low of $113.45 and a 52-week high of $286.85.
Mohawk Industries announced that its board has authorized a share repurchase program on Thursday, October 25th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In related news, Director Filip Balcaen acquired 250,000 shares of the firm’s stock in a transaction on Monday, October 29th. The stock was bought at an average cost of $118.42 per share, with a total value of $29,605,000.00. Following the transaction, the director now owns 776 shares of the company’s stock, valued at $91,893.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bernard Thiers sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $190.00, for a total value of $950,000.00. Following the sale, the insider now directly owns 40,156 shares of the company’s stock, valued at $7,629,640. The disclosure for this sale can be found here. Insiders have acquired a total of 262,698 shares of company stock valued at $31,728,885 over the last ninety days. 16.80% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Qube Research & Technologies Ltd acquired a new stake in shares of Mohawk Industries in the 2nd quarter valued at approximately $110,000. WESPAC Advisors SoCal LLC acquired a new stake in shares of Mohawk Industries in the 3rd quarter valued at approximately $105,000. SRS Capital Advisors Inc. acquired a new stake in shares of Mohawk Industries in the 3rd quarter valued at approximately $118,000. Captrust Financial Advisors lifted its holdings in shares of Mohawk Industries by 2,250.0% in the 2nd quarter. Captrust Financial Advisors now owns 705 shares of the company’s stock valued at $151,000 after buying an additional 675 shares during the period. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Mohawk Industries in the 2nd quarter valued at approximately $159,000. 81.57% of the stock is owned by institutional investors.
Mohawk Industries Company Profile
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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