Mohawk Industries (MHK) Set to Announce Quarterly Earnings on Thursday

Mohawk Industries (NYSE:MHK) is set to announce its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.69 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Mohawk Industries (NYSE:MHK) last released its earnings results on Friday, February 9th. The company reported $1.96 earnings per share for the quarter, topping 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 analyst estimates of $2.56 billion. During the same quarter last year, the firm posted $1.32 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. 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 Stock Performance

MHK stock opened at $113.37 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is $119.13 and its two-hundred day simple moving average is $102.52. Mohawk Industries has a twelve month low of $76.02 and a twelve month high of $131.19. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of -16.39 and a beta of 1.34.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MHK. Barclays increased their target price on Mohawk Industries from $100.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. The Goldman Sachs Group raised their price target on Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Wells Fargo & Company cut their price target on Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday, January 22nd. StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Finally, Truist Financial raised their price target on Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Mohawk Industries currently has a consensus rating of “Hold” and an average price target of $118.75.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction dated Tuesday, March 12th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.10% of the stock is owned by insiders.

Mohawk Industries Company Profile

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.