Mohawk Industries (MHK) Scheduled to Post Quarterly Earnings on Thursday

Mohawk Industries (NYSE:MHK) will post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect Mohawk Industries to post earnings of $1.69 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Friday, February 9th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.10. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the business posted $1.32 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts expect Mohawk Industries to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Mohawk Industries Price Performance

MHK opened at $108.27 on Thursday. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $6.90 billion, a P/E ratio of -15.65 and a beta of 1.34. The stock has a 50-day moving average price of $119.33 and a 200-day moving average price of $101.82. Mohawk Industries has a 12-month low of $76.02 and a 12-month high of $131.19.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the transaction, the vice president now owns 15,321 shares in the company, valued at $1,831,012.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mohawk Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Gyon Technologies Capital Management LP bought a new position in shares of Mohawk Industries during the fourth quarter valued at approximately $30,000. Rockefeller Capital Management L.P. increased its position in Mohawk Industries by 143.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 307 shares of the company’s stock valued at $31,000 after purchasing an additional 181 shares during the period. Covestor Ltd raised its holdings in Mohawk Industries by 191.0% in the 1st quarter. Covestor Ltd now owns 390 shares of the company’s stock worth $49,000 after purchasing an additional 256 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of Mohawk Industries in the 2nd quarter worth about $41,000. Finally, Advisory Services Network LLC bought a new stake in shares of Mohawk Industries during the 4th quarter valued at about $107,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MHK. TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. Royal Bank of Canada boosted their price objective on shares of Mohawk Industries from $101.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, February 12th. Wells Fargo & Company reduced their target price on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating on the stock in a report on Monday, January 22nd. Truist Financial boosted their price target on shares of Mohawk Industries from $98.00 to $127.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, Deutsche Bank Aktiengesellschaft raised Mohawk Industries from a “hold” rating to a “buy” rating and raised their price objective for the company from $98.00 to $152.00 in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $117.56.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.