$2.93 EPS Expected for Mohawk Industries, Inc. (NYSE:MHK) This Quarter

Analysts expect Mohawk Industries, Inc. (NYSE:MHK) to announce earnings of $2.93 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Mohawk Industries’ earnings, with the highest EPS estimate coming in at $2.95 and the lowest estimate coming in at $2.88. Mohawk Industries reported earnings per share of $3.54 in the same quarter last year, which suggests a negative year over year growth rate of 17.2%. The company is expected to report its next earnings results on Thursday, February 10th.

On average, analysts expect that Mohawk Industries will report full-year earnings of $14.83 per share for the current year, with EPS estimates ranging from $14.78 to $14.86. For the next year, analysts forecast that the firm will post earnings of $15.85 per share, with EPS estimates ranging from $15.00 to $17.27. Zacks’ EPS averages are a mean average based on a survey of analysts that follow Mohawk Industries.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, October 28th. The company reported $3.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.80 by $0.15. Mohawk Industries had a return on equity of 12.50% and a net margin of 9.86%. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the firm posted $3.26 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year.

Several research firms recently commented on MHK. Bank of America began coverage on Mohawk Industries in a research note on Monday, November 8th. They issued an “underperform” rating for the company. Zacks Investment Research downgraded Mohawk Industries from a “buy” rating to a “hold” rating and set a $188.00 target price for the company. in a research note on Monday, October 4th. Barclays cut their target price on Mohawk Industries from $235.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, November 1st. Loop Capital cut their target price on Mohawk Industries from $200.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, October 12th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $248.00 target price on shares of Mohawk Industries in a research note on Sunday, October 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $195.33.

Shares of MHK stock traded down $1.55 during trading hours on Thursday, hitting $179.70. 409,169 shares of the company’s stock were exchanged, compared to its average volume of 515,046. The firm has a 50 day moving average of $181.75 and a two-hundred day moving average of $192.50. Mohawk Industries has a fifty-two week low of $124.16 and a fifty-two week high of $231.80. The company has a quick ratio of 1.18, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The firm has a market cap of $12.17 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.51 and a beta of 1.50.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Partners increased its position in shares of Mohawk Industries by 7.0% in the 3rd quarter. Boston Partners now owns 3,419,051 shares of the company’s stock valued at $606,661,000 after purchasing an additional 222,227 shares during the last quarter. State Street Corp grew its position in shares of Mohawk Industries by 2.0% in the 2nd quarter. State Street Corp now owns 2,786,839 shares of the company’s stock valued at $535,603,000 after buying an additional 55,585 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Mohawk Industries by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,083,294 shares of the company’s stock valued at $207,638,000 after buying an additional 4,618 shares during the last quarter. Invesco Ltd. grew its position in shares of Mohawk Industries by 30.1% in the 2nd quarter. Invesco Ltd. now owns 900,368 shares of the company’s stock valued at $173,041,000 after buying an additional 208,426 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Mohawk Industries by 0.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 427,385 shares of the company’s stock worth $82,139,000 after purchasing an additional 3,637 shares during the period. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Company Profile

Mohawk Industries, Inc engages in the manufacture, design, and distribution of residential and commercial flooring products. It operates through the following segments: Global Ceramic, Flooring North America (NA), and Flooring Rest of the World (ROW). The Global Ceramic segment comprises ceramic, porcelain, and natural stone tile products used for wall and floor applications.

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

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