Mohawk Industries, Inc. to Post Q1 2019 Earnings of $2.05 Per Share, Jefferies Financial Group Forecasts (MHK)

Mohawk Industries, Inc. (NYSE:MHK) – Research analysts at Jefferies Financial Group dropped their Q1 2019 earnings per share (EPS) estimates for Mohawk Industries in a report issued on Monday, February 11th. Jefferies Financial Group analyst P. Ng now anticipates that the company will post earnings of $2.05 per share for the quarter, down from their prior forecast of $2.36. Jefferies Financial Group has a “Hold” rating on the stock. Jefferies Financial Group also issued estimates for Mohawk Industries’ Q2 2019 earnings at $3.28 EPS, Q3 2019 earnings at $3.47 EPS, Q4 2019 earnings at $2.87 EPS and FY2019 earnings at $11.68 EPS.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, February 7th. The company reported $2.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.04. Mohawk Industries had a net margin of 8.63% and a return on equity of 12.40%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the firm earned $3.42 earnings per share. Mohawk Industries’s revenue was up 3.4% compared to the same quarter last year.

Several other analysts have also recently commented on MHK. Zacks Investment Research raised shares of Mohawk Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, January 23rd. SunTrust Banks increased their price target on shares of Mohawk Industries to $150.00 and gave the company a “buy” rating in a research note on Monday. They noted that the move was a valuation call. Buckingham Research began coverage on shares of Mohawk Industries in a research note on Friday, February 1st. They set an “underperform” rating and a $116.00 price target on the stock. Loop Capital increased their price target on shares of Mohawk Industries to $126.00 and gave the company an “underperform” rating in a research note on Friday. Finally, Wells Fargo & Co increased their price target on shares of Mohawk Industries from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Monday. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $168.94.

MHK opened at $137.98 on Tuesday. Mohawk Industries has a one year low of $109.35 and a one year high of $257.46. The company has a current ratio of 1.38, a quick ratio of 0.68 and a debt-to-equity ratio of 0.20. The company has a market cap of $10.07 billion, a PE ratio of 11.19, a P/E/G ratio of 1.76 and a beta of 1.49.

Mohawk Industries announced that its board has authorized a stock buyback program on Thursday, October 25th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

In other Mohawk Industries news, VP Rodney David Patton sold 763 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $125.27, for a total value of $95,581.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Filip Balcaen bought 10,000 shares of the business’s stock in a transaction on Thursday, November 29th. The stock was purchased at an average price of $127.48 per share, for a total transaction of $1,274,800.00. Following the completion of the acquisition, the director now owns 776 shares of the company’s stock, valued at approximately $98,924.48. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 216,046 shares of company stock worth $26,149,264. Insiders own 16.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Tributary Capital Management LLC raised its holdings in Mohawk Industries by 35.3% in the third quarter. Tributary Capital Management LLC now owns 4,600 shares of the company’s stock worth $807,000 after purchasing an additional 1,200 shares during the period. USS Investment Management Ltd raised its holdings in Mohawk Industries by 51.7% in the third quarter. USS Investment Management Ltd now owns 27,077 shares of the company’s stock worth $4,748,000 after purchasing an additional 9,225 shares during the period. Raymond James Trust N.A. raised its holdings in Mohawk Industries by 55.4% in the third quarter. Raymond James Trust N.A. now owns 1,747 shares of the company’s stock worth $306,000 after purchasing an additional 623 shares during the period. Aviva PLC raised its holdings in Mohawk Industries by 119.7% in the third quarter. Aviva PLC now owns 135,063 shares of the company’s stock worth $23,683,000 after purchasing an additional 73,586 shares during the period. Finally, William Blair Investment Management LLC raised its holdings in Mohawk Industries by 0.4% in the third quarter. William Blair Investment Management LLC now owns 181,878 shares of the company’s stock worth $31,892,000 after purchasing an additional 679 shares during the period. Institutional investors own 80.85% of the company’s stock.

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

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