Analysts Offer Predictions for Mohawk Industries, Inc.’s Q2 2018 Earnings (MHK)

Mohawk Industries, Inc. (NYSE:MHK) – Research analysts at Jefferies Group lifted their Q2 2018 earnings estimates for shares of Mohawk Industries in a research report issued on Monday. Jefferies Group analyst P. Ng now anticipates that the company will earn $4.02 per share for the quarter, up from their previous estimate of $3.95. Jefferies Group has a “Buy” rating and a $330.00 price objective on the stock. Jefferies Group also issued estimates for Mohawk Industries’ Q3 2018 earnings at $4.44 EPS and FY2018 earnings at $15.47 EPS.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 8th. The company reported $3.42 EPS for the quarter, beating the Zacks’ consensus estimate of $3.32 by $0.10. Mohawk Industries had a return on equity of 15.44% and a net margin of 10.24%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the firm earned $3.26 earnings per share. Mohawk Industries’s revenue for the quarter was up 8.5% on a year-over-year basis.

Several other brokerages also recently weighed in on MHK. Zacks Investment Research downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Longbow Research upgraded Mohawk Industries from a “neutral” rating to a “buy” rating in a report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $300.00 target price (up from $291.00) on shares of Mohawk Industries in a report on Monday, October 30th. Robert W. Baird lowered their price target on Mohawk Industries from $312.00 to $300.00 and set an “outperform” rating for the company in a report on Monday. Finally, ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $295.62.

Mohawk Industries (NYSE:MHK) opened at $253.50 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.80 and a current ratio of 1.53. The firm has a market capitalization of $18,675.14, a P/E ratio of 19.53, a PEG ratio of 1.78 and a beta of 1.26. Mohawk Industries has a 52 week low of $219.22 and a 52 week high of $286.85.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MHK. Standard Life Aberdeen plc raised its holdings in shares of Mohawk Industries by 5,674.0% in the fourth quarter. Standard Life Aberdeen plc now owns 895,139 shares of the company’s stock worth $246,982,000 after acquiring an additional 879,636 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Mohawk Industries by 10.4% in the fourth quarter. BlackRock Inc. now owns 5,046,157 shares of the company’s stock worth $1,392,234,000 after acquiring an additional 477,056 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Mohawk Industries by 46.3% in the third quarter. Wells Fargo & Company MN now owns 872,767 shares of the company’s stock worth $216,018,000 after acquiring an additional 276,409 shares during the last quarter. KAMES CAPITAL plc raised its holdings in shares of Mohawk Industries by 1,816.2% in the fourth quarter. KAMES CAPITAL plc now owns 215,529 shares of the company’s stock worth $59,467,000 after acquiring an additional 204,281 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Mohawk Industries by 181.4% in the third quarter. Point72 Asset Management L.P. now owns 285,883 shares of the company’s stock valued at $70,759,000 after purchasing an additional 184,283 shares during the last quarter. 76.51% of the stock is owned by 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.

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

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