Equities analysts forecast that Mohawk Industries, Inc. (NYSE:MHK) will announce sales of $1.76 billion for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Mohawk Industries’ earnings. The lowest sales estimate is $1.67 billion and the highest is $1.80 billion. Mohawk Industries posted sales of $2.58 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 31.8%. The business is expected to announce its next earnings report on Thursday, July 23rd.
According to Zacks, analysts expect that Mohawk Industries will report full year sales of $8.30 billion for the current fiscal year, with estimates ranging from $7.88 billion to $8.51 billion. For the next year, analysts forecast that the business will post sales of $8.71 billion, with estimates ranging from $8.08 billion to $9.47 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Mohawk Industries.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Monday, May 4th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by ($0.01). Mohawk Industries had a return on equity of 8.75% and a net margin of 7.47%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period last year, the firm posted $2.13 earnings per share. Mohawk Industries’s revenue for the quarter was down 6.4% on a year-over-year basis.
A number of brokerages have recently issued reports on MHK. SunTrust Banks boosted their price target on shares of Mohawk Industries from $98.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Jefferies Financial Group lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating and dropped their price target for the stock from $110.00 to $74.00 in a research note on Friday, April 3rd. Deutsche Bank lowered shares of Mohawk Industries from a “hold” rating to a “sell” rating and dropped their price target for the stock from $85.00 to $77.00 in a research note on Tuesday, June 23rd. Royal Bank of Canada lowered shares of Mohawk Industries from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $73.00 to $70.00 in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Mohawk Industries from $128.00 to $84.00 and set a “neutral” rating on the stock in a report on Tuesday, March 31st. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $105.22.
NYSE MHK traded up $1.39 during trading on Friday, reaching $101.19. The company’s stock had a trading volume of 18,285 shares, compared to its average volume of 948,652. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.84 and a current ratio of 1.61. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 2.43 and a beta of 1.53. Mohawk Industries has a twelve month low of $56.62 and a twelve month high of $156.60. The business’s fifty day moving average price is $92.83 and its 200-day moving average price is $107.14.
In other Mohawk Industries news, insider Cock Paul F. De sold 4,453 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $84.28, for a total value of $375,298.84. Following the sale, the insider now owns 23,175 shares of the company’s stock, valued at $1,953,189. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzanne L. Helen sold 13,600 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $97.74, for a total transaction of $1,329,264.00. The disclosure for this sale can be found here. 18.50% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Procyon Private Wealth Partners LLC acquired a new position in shares of Mohawk Industries in the fourth quarter valued at approximately $25,000. Orion Portfolio Solutions LLC acquired a new position in shares of Mohawk Industries in the fourth quarter valued at approximately $31,000. Canada Pension Plan Investment Board raised its position in shares of Mohawk Industries by 510.1% in the first quarter. Canada Pension Plan Investment Board now owns 421 shares of the company’s stock valued at $32,000 after buying an additional 352 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Mohawk Industries by 70.3% in the fourth quarter. Quadrant Capital Group LLC now owns 540 shares of the company’s stock valued at $69,000 after buying an additional 223 shares during the last quarter. Finally, Penserra Capital Management LLC raised its position in shares of Mohawk Industries by 84.2% in the fourth quarter. Penserra Capital Management LLC now owns 608 shares of the company’s stock valued at $80,000 after buying an additional 278 shares during the last quarter. 76.40% of the stock is owned by institutional investors and hedge funds.
About Mohawk Industries
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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