Mohawk Industries, Inc. (NYSE:MHK) – Analysts at Jefferies Group reduced their Q1 2018 earnings per share (EPS) estimates for shares of Mohawk Industries in a research report issued to clients and investors on Monday. Jefferies Group analyst P. Ng now anticipates that the company will earn $2.98 per share for the quarter, down from their prior forecast of $2.99. Jefferies Group currently has a “Buy” rating and a $330.00 target price on the stock. Jefferies Group also issued estimates for Mohawk Industries’ Q4 2018 earnings at $4.03 EPS and FY2019 earnings at $16.79 EPS.
MHK has been the topic of several other research reports. Barclays lifted their target price on Mohawk Industries from $285.00 to $301.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. Credit Suisse Group reaffirmed an “outperform” rating and set a $310.00 target price (up previously from $303.00) on shares of Mohawk Industries in a research report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $312.00 target price on the stock in a research report on Friday, January 19th. Stifel Nicolaus reaffirmed a “buy” rating and set a $270.00 target price on shares of Mohawk Industries in a research report on Sunday, October 29th. Finally, ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Mohawk Industries has a consensus rating of “Buy” and an average price target of $295.62.
Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, February 8th. The company reported $3.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.32 by $0.10. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Mohawk Industries had a return on equity of 15.44% and a net margin of 10.24%. Mohawk Industries’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.26 earnings per share.
Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its holdings in 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 acquiring an additional 27,503 shares during the period. Pensionfund DSM Netherlands bought a new stake in shares of Mohawk Industries in the fourth quarter valued at $3,035,000. Quantbot Technologies LP bought a new stake in shares of Mohawk Industries in the third quarter valued at $5,281,000. National Pension Service raised its stake in shares of Mohawk Industries by 2.5% in the fourth quarter. National Pension Service now owns 69,142 shares of the company’s stock valued at $19,076,000 after buying an additional 1,672 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Mohawk Industries by 10.4% in the third quarter. Parametric Portfolio Associates LLC now owns 105,131 shares of the company’s stock valued at $26,021,000 after buying an additional 9,896 shares during the period. Institutional investors and hedge funds own 76.51% of the company’s stock.
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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.
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