Analysts Offer Predictions for Mohawk Industries, Inc.’s FY2018 Earnings (MHK)

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Mohawk Industries, Inc. (NYSE:MHK) – Analysts at Gabelli dropped their FY2018 earnings per share estimates for shares of Mohawk Industries in a research note issued to investors on Monday, October 29th. Gabelli analyst A. Lacayo now anticipates that the company will earn $12.30 per share for the year, down from their prior estimate of $13.70. Gabelli currently has a “Buy” rating on the stock. Gabelli also issued estimates for Mohawk Industries’ FY2019 earnings at $11.80 EPS, FY2020 earnings at $13.15 EPS, FY2021 earnings at $14.10 EPS and FY2022 earnings at $14.75 EPS.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, October 25th. The company reported $3.29 earnings per share for the quarter, missing analysts’ consensus estimates of $3.58 by ($0.29). Mohawk Industries had a net margin of 8.81% and a return on equity of 13.49%. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.61 billion.

Other research analysts have also issued reports about the stock. Raymond James lowered shares of Mohawk Industries from a “strong-buy” rating to an “outperform” rating in a research note on Friday, July 27th. Zacks Investment Research lowered shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Robert W. Baird restated a “buy” rating and issued a $212.00 price objective on shares of Mohawk Industries in a research note on Friday, July 27th. Stifel Nicolaus dropped their price objective on shares of Mohawk Industries from $290.00 to $235.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Mohawk Industries from $160.00 to $105.00 and set an “underweight” rating on the stock in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $175.06.

Shares of MHK opened at $124.73 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 0.79. The firm has a market capitalization of $9.25 billion, a P/E ratio of 9.16, a P/E/G ratio of 1.46 and a beta of 1.29. Mohawk Industries has a 1-year low of $113.45 and a 1-year high of $286.85.

Institutional investors have recently modified their holdings of the company. WESPAC Advisors SoCal LLC acquired a new position in shares of Mohawk Industries during the third quarter worth about $105,000. Qube Research & Technologies Ltd acquired a new position in shares of Mohawk Industries during the second quarter worth about $110,000. Captrust Financial Advisors increased its stake in shares of Mohawk Industries by 2,250.0% during the second quarter. Captrust Financial Advisors now owns 705 shares of the company’s stock worth $151,000 after acquiring an additional 675 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of Mohawk Industries during the second quarter worth about $159,000. Finally, NuWave Investment Management LLC increased its stake in shares of Mohawk Industries by 686.4% during the second quarter. NuWave Investment Management LLC now owns 810 shares of the company’s stock worth $173,000 after acquiring an additional 707 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.

In other news, Director Filip Balcaen purchased 25,000 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were acquired at an average cost of $183.45 per share, for a total transaction of $4,586,250.00. Following the completion of the purchase, the director now directly owns 776 shares in the company, valued at approximately $142,357.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Jeffrey S. Lorberbaum sold 13,400 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $186.74, for a total transaction of $2,502,316.00. Following the transaction, the chairman now owns 45,187 shares in the company, valued at $8,438,220.38. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 62,698 shares of company stock worth $11,330,135. Company insiders own 16.80% of the company’s stock.

Mohawk Industries declared that its Board of Directors has authorized a stock repurchase program on Thursday, October 25th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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

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