Wall Street brokerages forecast that Mohawk Industries, Inc. (NYSE:MHK) will announce $2.60 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Mohawk Industries’ earnings, with the lowest sales estimate coming in at $2.53 billion and the highest estimate coming in at $2.66 billion. Mohawk Industries posted sales of $2.45 billion during the same quarter last year, which suggests a positive year over year growth rate of 6.1%. The firm is expected to report its next earnings results on Thursday, July 26th.
On average, analysts expect that Mohawk Industries will report full-year sales of $10.23 billion for the current financial year, with estimates ranging from $10.05 billion to $10.48 billion. For the next financial year, analysts expect that the business will report sales of $10.86 billion per share, with estimates ranging from $10.62 billion to $11.04 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Mohawk Industries.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, April 26th. The company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.40 billion. Mohawk Industries had a net margin of 10.12% and a return on equity of 15.05%. Mohawk Industries’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $2.72 earnings per share.
A number of brokerages have issued reports on MHK. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price objective on the stock in a research note on Monday, April 16th. Credit Suisse Group reduced their price objective on shares of Mohawk Industries from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, April 27th. Loop Capital reduced their price objective on shares of Mohawk Industries to $227.00 and set a “hold” rating on the stock in a research note on Friday, April 27th. Robert W. Baird set a $272.00 price objective on shares of Mohawk Industries and gave the stock a “buy” rating in a research note on Monday, April 30th. Finally, Stifel Nicolaus reduced their price objective on shares of Mohawk Industries from $300.00 to $290.00 and set a “buy” rating on the stock in a research note on Monday, April 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $279.67.
In other news, insider Bernard Thiers sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $212.60, for a total value of $2,126,000.00. Following the sale, the insider now directly owns 45,156 shares in the company, valued at approximately $9,600,165.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Filip Balcaen purchased 10,046 shares of Mohawk Industries stock in a transaction dated Wednesday, May 9th. The stock was bought at an average price of $209.82 per share, for a total transaction of $2,107,851.72. Following the completion of the purchase, the director now owns 776 shares in the company, valued at approximately $162,820.32. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 102,157 shares of company stock worth $21,387,408. 16.80% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. acquired a new stake in Mohawk Industries during the 1st quarter worth approximately $161,000. Zeke Capital Advisors LLC acquired a new stake in Mohawk Industries during the 4th quarter worth approximately $210,000. Jump Trading LLC acquired a new stake in Mohawk Industries during the 4th quarter worth approximately $235,000. Cornerstone Advisors Inc. boosted its position in Mohawk Industries by 36.1% during the 1st quarter. Cornerstone Advisors Inc. now owns 886 shares of the company’s stock worth $206,000 after buying an additional 235 shares during the period. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in Mohawk Industries during the 1st quarter worth approximately $206,000. Institutional investors and hedge funds own 77.21% of the company’s stock.
Shares of Mohawk Industries opened at $215.03 on Thursday, Marketbeat reports. The stock has a market cap of $15.95 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.36 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 1.54. Mohawk Industries has a 12-month low of $202.75 and a 12-month high of $286.85.
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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