Mohawk Industries, Inc. (MHK) Expected to Post Quarterly Sales of $2.38 Billion

Analysts expect Mohawk Industries, Inc. (NYSE:MHK) to report $2.38 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 $2.34 billion and the highest estimate coming in at $2.46 billion. Mohawk Industries reported sales of $2.18 billion during the same quarter last year, which indicates a positive year over year growth rate of 9.2%. The firm is expected to issue its next earnings results on Thursday, February 8th.

According to Zacks, analysts expect that Mohawk Industries will report full year sales of $2.38 billion for the current fiscal year, with estimates ranging from $9.44 billion to $9.58 billion. For the next fiscal year, analysts forecast that the company will post sales of $10.16 billion per share, with estimates ranging from $9.93 billion to $10.37 billion. Zacks Investment Research’s sales averages 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, October 26th. The company reported $3.75 EPS for the quarter, beating 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 business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the firm earned $3.50 earnings per share. Mohawk Industries’s revenue was up 6.7% compared to the same quarter last year.

Several analysts have recently commented on the stock. J P Morgan Chase & Co increased their price target on shares of Mohawk Industries from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Instinet reaffirmed a “buy” rating and issued a $288.00 price objective (up from $280.00) on shares of Mohawk Industries in a research note on Saturday, September 30th. Jefferies Group assumed coverage on shares of Mohawk Industries in a research note on Tuesday. They issued a “buy” rating and a $330.00 price objective on the stock. Cleveland Research cut shares of Mohawk Industries from a “buy” rating to a “neutral” rating in a research note on Friday, September 22nd. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $275.00 price objective on shares of Mohawk Industries in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $285.15.

Mohawk Industries (MHK) traded up $1.15 on Tuesday, hitting $274.71. 686,400 shares of the stock traded hands, compared to its average volume of 485,967. Mohawk Industries has a twelve month low of $196.50 and a twelve month high of $286.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 0.77. The company has a market capitalization of $20,475.91, a PE ratio of 20.48, a P/E/G ratio of 2.49 and a beta of 1.37.

Hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its position in shares of Mohawk Industries by 399.2% during the second quarter. Janus Henderson Group PLC now owns 34,392 shares of the company’s stock worth $8,312,000 after purchasing an additional 27,503 shares in the last quarter. Aviva PLC boosted its position in shares of Mohawk Industries by 1.1% during the second quarter. Aviva PLC now owns 38,875 shares of the company’s stock worth $9,396,000 after purchasing an additional 410 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Mohawk Industries during the third quarter worth $5,281,000. Utah Retirement Systems boosted its position in shares of Mohawk Industries by 0.9% during the second quarter. Utah Retirement Systems now owns 11,397 shares of the company’s stock worth $2,754,000 after purchasing an additional 100 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in shares of Mohawk Industries during the second quarter worth $53,508,000. 76.59% of the stock is currently owned by hedge funds and other institutional investors.

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Mohawk Industries Company Profile

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.

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

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