Jefferies Group Weighs in on Mohawk Industries, Inc.’s Q1 2018 Earnings (MHK)

Mohawk Industries, Inc. (NYSE:MHK) – Jefferies Group lifted their Q1 2018 EPS estimates for Mohawk Industries in a research report issued on Wednesday. Jefferies Group analyst P. Ng now anticipates that the company will earn $3.17 per share for the quarter, up from their previous forecast of $2.96. Jefferies Group currently has a “Buy” rating and a $330.00 target price on the stock. Jefferies Group also issued estimates for Mohawk Industries’ Q2 2018 earnings at $4.24 EPS, Q3 2018 earnings at $4.47 EPS and Q4 2018 earnings at $3.98 EPS.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, October 26th. The company reported $3.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.74 by $0.01. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the firm earned $3.50 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis.

Several other research analysts have also recently commented on MHK. Zacks Investment Research cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Thursday. Nomura reaffirmed a “buy” rating and set a $288.00 target price (up from $280.00) on shares of Mohawk Industries in a report on Thursday, September 28th. JPMorgan Chase & Co. raised their target price on shares of Mohawk Industries from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. ValuEngine raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Instinet reaffirmed a “buy” rating and set a $288.00 target price (up from $280.00) on shares of Mohawk Industries in a report on Saturday, September 30th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $293.00.

Mohawk Industries (NYSE MHK) opened at $279.14 on Thursday. Mohawk Industries has a fifty-two week low of $204.51 and a fifty-two week high of $286.85. The company has a market cap of $20,670.63, a P/E ratio of 21.64, a PEG ratio of 2.27 and a beta of 1.37. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.23.

A number of large investors have recently made changes to their positions in MHK. Sun Life Financial INC increased its stake in Mohawk Industries by 5,675.0% in the second quarter. Sun Life Financial INC now owns 462 shares of the company’s stock valued at $112,000 after acquiring an additional 454 shares during the last quarter. Daiwa SB Investments Ltd. bought a new position in Mohawk Industries in the fourth quarter valued at approximately $199,000. Virtu Financial LLC bought a new position in Mohawk Industries in the third quarter valued at approximately $206,000. Teacher Retirement System of Texas bought a new position in Mohawk Industries in the third quarter valued at approximately $212,000. Finally, Private Trust Co. NA bought a new position in Mohawk Industries in the fourth quarter valued at approximately $214,000. 76.55% of the stock is currently owned by institutional investors and hedge funds.

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About Mohawk Industries

Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.

Earnings History and Estimates for Mohawk Industries (NYSE:MHK)

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