$2.42 Billion in Sales Expected for Mohawk Industries, Inc. (MHK) This Quarter

Equities research analysts expect that Mohawk Industries, Inc. (NYSE:MHK) will post $2.42 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Mohawk Industries’ earnings, with the highest sales estimate coming in at $2.46 billion and the lowest estimate coming in at $2.36 billion. Mohawk Industries posted sales of $2.22 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The company is expected to announce its next earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Mohawk Industries will report full year sales of $2.42 billion for the current financial year, with estimates ranging from $10.05 billion to $10.31 billion. For the next year, analysts expect that the business will report sales of $10.77 billion per share, with estimates ranging from $10.56 billion to $10.97 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Mohawk Industries.

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

Several brokerages have recently commented on MHK. Loop Capital began coverage on shares of Mohawk Industries in a research note on Thursday, March 1st. They set a “hold” rating and a $261.00 price target on the stock. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Goldman Sachs Group lowered shares of Mohawk Industries from a “conviction-buy” rating to a “buy” rating and dropped their price target for the stock from $306.00 to $292.00 in a research note on Thursday, March 1st. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $303.00 price target on the stock in a research note on Monday, February 5th. Finally, Longbow Research upgraded shares of Mohawk Industries from a “neutral” rating to a “buy” rating in a research note on Monday, February 12th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Mohawk Industries currently has an average rating of “Buy” and a consensus target price of $293.07.

In related news, insider Chistopher Wellborn sold 8,707 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $252.00, for a total transaction of $2,194,164.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bernard Thiers sold 17,383 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $250.00, for a total transaction of $4,345,750.00. Following the sale, the insider now directly owns 50,003 shares of the company’s stock, valued at $12,500,750. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,983 shares of company stock valued at $7,464,138. 17.00% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Oakbrook Investments LLC boosted its holdings in shares of Mohawk Industries by 4.2% during the 4th quarter. Oakbrook Investments LLC now owns 4,540 shares of the company’s stock worth $1,253,000 after buying an additional 185 shares during the period. Zions Bancorporation boosted its holdings in shares of Mohawk Industries by 6.5% during the 3rd quarter. Zions Bancorporation now owns 3,210 shares of the company’s stock worth $795,000 after buying an additional 196 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Mohawk Industries by 0.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 30,845 shares of the company’s stock worth $8,510,000 after buying an additional 200 shares during the period. Catalyst Capital Advisors LLC boosted its holdings in Mohawk Industries by 2.9% in the 4th quarter. Catalyst Capital Advisors LLC now owns 7,200 shares of the company’s stock valued at $1,986,000 after purchasing an additional 200 shares during the period. Finally, New Mexico Educational Retirement Board boosted its holdings in Mohawk Industries by 3.4% in the 4th quarter. New Mexico Educational Retirement Board now owns 6,100 shares of the company’s stock valued at $1,683,000 after purchasing an additional 200 shares during the period. 78.68% of the stock is owned by institutional investors and hedge funds.

Shares of Mohawk Industries (NYSE:MHK) traded up $2.96 on Wednesday, hitting $247.93. 683,641 shares of the stock traded hands, compared to its average volume of 853,916. Mohawk Industries has a 52 week low of $223.84 and a 52 week high of $286.85. The firm has a market cap of $18,430.00, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 1.72 and a beta of 1.37. The company has a current ratio of 1.53, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22.

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

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