Analysts expect that Mohawk Industries, Inc. (NYSE:MHK) will report sales of $2.48 billion for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Mohawk Industries’ earnings. The highest sales estimate is $2.50 billion and the lowest is $2.45 billion. Mohawk Industries posted sales of $2.29 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.3%. The business is expected to issue its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Mohawk Industries will report full-year sales of $2.48 billion for the current year, with estimates ranging from $9.43 billion to $9.62 billion. For the next financial year, analysts forecast that the company will post sales of $10.04 billion per share, with estimates ranging from $9.92 billion to $10.18 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Mohawk Industries.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.12. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. Mohawk Industries’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.47 earnings per share.
A number of equities analysts have weighed in on MHK shares. BidaskClub downgraded shares of Mohawk Industries from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $267.00 target price on shares of Mohawk Industries in a research note on Monday, May 1st. MKM Partners reaffirmed a “buy” rating and issued a $255.00 target price on shares of Mohawk Industries in a research note on Tuesday, April 18th. Zacks Investment Research raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price for the company in a research note on Tuesday, July 4th. Finally, Instinet reaffirmed a “buy” rating and issued a $280.00 target price on shares of Mohawk Industries in a research note on Friday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $266.64.
ILLEGAL ACTIVITY WARNING: “Brokerages Expect Mohawk Industries, Inc. (MHK) Will Post Quarterly Sales of $2.48 Billion” was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this piece of content can be read at https://stocknewstimes.com/2017/08/07/brokerages-expect-mohawk-industries-inc-mhk-will-post-quarterly-sales-of-2-48-billion.html.
In other news, insider Suzanne L. Helen sold 6,200 shares of Mohawk Industries stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $240.62, for a total transaction of $1,491,844.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Cock Frans Georges De sold 1,000 shares of Mohawk Industries stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $238.27, for a total transaction of $238,270.00. Following the sale, the director now owns 13,016 shares of the company’s stock, valued at approximately $3,101,322.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,587 shares of company stock valued at $1,823,768. 17.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MHK. Washington Trust Bank boosted its position in shares of Mohawk Industries by 81.1% in the first quarter. Washington Trust Bank now owns 480 shares of the company’s stock worth $110,000 after buying an additional 215 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock worth $121,000 after buying an additional 28 shares in the last quarter. First Personal Financial Services boosted its position in shares of Mohawk Industries by 6.6% in the second quarter. First Personal Financial Services now owns 568 shares of the company’s stock worth $137,000 after buying an additional 35 shares in the last quarter. First Manhattan Co. purchased a new position in shares of Mohawk Industries during the second quarter worth about $160,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Mohawk Industries during the first quarter worth about $179,000. Hedge funds and other institutional investors own 76.31% of the company’s stock.
Mohawk Industries (NYSE MHK) traded down 0.60% during midday trading on Friday, reaching $249.38. 505,752 shares of the company traded hands. Mohawk Industries has a 12 month low of $175.52 and a 12 month high of $252.23. The firm’s 50 day moving average price is $244.51 and its 200 day moving average price is $232.21. The firm’s market capitalization is $18.54 billion.
About Mohawk Industries
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.
Get a free copy of the Zacks research report on Mohawk Industries (MHK)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Mohawk Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
