Analysts Anticipate Mohawk Industries, Inc. (NYSE:MHK) Will Announce Quarterly Sales of $3.02 Billion

Equities research analysts expect Mohawk Industries, Inc. (NYSE:MHKGet Rating) to post $3.02 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Mohawk Industries’ earnings. The highest sales estimate is $3.19 billion and the lowest is $2.86 billion. Mohawk Industries reported sales of $2.95 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.4%. The company is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Mohawk Industries will report full year sales of $11.83 billion for the current financial year, with estimates ranging from $11.72 billion to $12.12 billion. For the next fiscal year, analysts expect that the business will report sales of $12.22 billion, with estimates ranging from $11.90 billion to $12.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Mohawk Industries.

Mohawk Industries (NYSE:MHKGet Rating) last released its quarterly earnings results on Thursday, April 28th. The company reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.85. Mohawk Industries had a net margin of 9.02% and a return on equity of 11.87%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter last year, the company earned $3.49 EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year.

A number of brokerages have issued reports on MHK. StockNews.com began coverage on shares of Mohawk Industries in a research note on Thursday, March 31st. They set a “hold” rating on the stock. UBS Group lowered their price objective on Mohawk Industries from $180.00 to $162.00 in a research report on Monday, February 14th. Raymond James lowered their price target on Mohawk Industries from $245.00 to $220.00 and set a “strong-buy” rating for the company in a report on Monday, February 14th. The Goldman Sachs Group lowered their price target on Mohawk Industries from $190.00 to $165.00 and set a “buy” rating for the company in a report on Tuesday, April 12th. Finally, JPMorgan Chase & Co. lowered their price target on Mohawk Industries from $140.00 to $127.00 and set an “underweight” rating for the company in a report on Wednesday, April 20th. Four analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $167.00.

In other news, VP Rodney David Patton sold 506 shares of the firm’s stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $144.76, for a total value of $73,248.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Chistopher Wellborn acquired 10,000 shares of the business’s stock in a transaction dated Thursday, February 24th. The stock was purchased at an average price of $135.76 per share, for a total transaction of $1,357,600.00. The disclosure for this purchase can be found here. 18.90% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. boosted its position in Mohawk Industries by 172.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 176,410 shares of the company’s stock valued at $22,252,000 after purchasing an additional 111,552 shares during the period. Morgan Stanley raised its stake in shares of Mohawk Industries by 54.5% in the 2nd quarter. Morgan Stanley now owns 343,308 shares of the company’s stock worth $65,982,000 after buying an additional 121,047 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Mohawk Industries by 7.9% in the 3rd quarter. Victory Capital Management Inc. now owns 26,633 shares of the company’s stock worth $4,725,000 after buying an additional 1,950 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Mohawk Industries by 88.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,739 shares of the company’s stock worth $1,018,000 after buying an additional 2,688 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Mohawk Industries by 96.2% in the 3rd quarter. Van ECK Associates Corp now owns 204 shares of the company’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Institutional investors own 75.00% of the company’s stock.

Shares of MHK stock opened at $141.06 on Monday. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 6.40 and a beta of 1.51. Mohawk Industries has a twelve month low of $117.56 and a twelve month high of $231.80. The company’s 50-day moving average price is $132.23 and its 200-day moving average price is $157.59. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.20.

Mohawk Industries Company Profile (Get Rating)

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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