Zacks: Analysts Expect Mohawk Industries, Inc. (NYSE:MHK) Will Announce Earnings of $2.66 Per Share

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Brokerages expect Mohawk Industries, Inc. (NYSE:MHK) to report earnings per share (EPS) of $2.66 for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Mohawk Industries’ earnings. The lowest EPS estimate is $2.61 and the highest is $2.69. Mohawk Industries reported earnings of $3.29 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 19.1%. The firm is expected to announce its next earnings results on Thursday, October 24th.

On average, analysts expect that Mohawk Industries will report full year earnings of $9.97 per share for the current financial year, with EPS estimates ranging from $9.74 to $10.03. For the next fiscal year, analysts forecast that the firm will report earnings of $10.99 per share, with EPS estimates ranging from $10.30 to $11.65. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Mohawk Industries.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 25th. The company reported $2.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.87 by $0.02. Mohawk Industries had a net margin of 7.79% and a return on equity of 10.50%. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the prior year, the business earned $3.51 earnings per share. Mohawk Industries’s revenue for the quarter was up .3% on a year-over-year basis.

MHK has been the topic of several recent analyst reports. Jefferies Financial Group upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and increased their price target for the company from $145.00 to $167.00 in a research note on Tuesday, April 30th. Wells Fargo & Co lowered shares of Mohawk Industries from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $135.00 to $115.00 in a research note on Monday, July 29th. JPMorgan Chase & Co. decreased their price objective on Mohawk Industries from $130.00 to $118.00 and set an “underweight” rating for the company in a report on Monday, July 29th. Zacks Investment Research downgraded Mohawk Industries from a “hold” rating to a “sell” rating and set a $131.00 price objective for the company. in a report on Thursday, August 1st. Finally, Robert W. Baird set a $156.00 price objective on Mohawk Industries and gave the company a “buy” rating in a report on Monday, April 22nd. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $142.59.

In other news, Chairman Jeffrey S. Lorberbaum sold 6,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $145.00, for a total value of $870,000.00. Following the completion of the transaction, the chairman now owns 47,603 shares in the company, valued at $6,902,435. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Jeffrey S. Lorberbaum sold 18,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $142.76, for a total value of $2,569,680.00. Following the completion of the transaction, the chairman now owns 47,603 shares of the company’s stock, valued at approximately $6,795,804.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,000 shares of company stock valued at $4,481,028. Company insiders own 18.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC purchased a new stake in Mohawk Industries during the 1st quarter worth about $25,000. Massey Quick Simon & CO. LLC acquired a new stake in Mohawk Industries in the 1st quarter worth about $38,000. North Star Investment Management Corp. acquired a new stake in Mohawk Industries in the 1st quarter worth about $50,000. Parallel Advisors LLC boosted its stake in Mohawk Industries by 28.0% in the 1st quarter. Parallel Advisors LLC now owns 452 shares of the company’s stock worth $57,000 after buying an additional 99 shares during the last quarter. Finally, SRS Capital Advisors Inc. acquired a new stake in Mohawk Industries in the 2nd quarter worth about $90,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

MHK stock opened at $114.81 on Friday. The stock’s 50 day moving average price is $139.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.30 and a quick ratio of 0.66. Mohawk Industries has a fifty-two week low of $109.35 and a fifty-two week high of $196.30. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 2.28 and a beta of 1.38.

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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