Mohawk Industries, Inc. Expected to Post Q3 2020 Earnings of $2.43 Per Share (NYSE:MHK)

Mohawk Industries, Inc. (NYSE:MHK) – Northcoast Research raised their Q3 2020 earnings per share (EPS) estimates for shares of Mohawk Industries in a research note issued on Thursday, September 17th. Northcoast Research analyst K. Hocevar now anticipates that the company will post earnings of $2.43 per share for the quarter, up from their previous estimate of $2.05. Northcoast Research has a “Buy” rating and a $125.00 price objective on the stock. Northcoast Research also issued estimates for Mohawk Industries’ FY2020 earnings at $6.60 EPS, Q2 2021 earnings at $2.58 EPS, FY2021 earnings at $9.50 EPS and FY2022 earnings at $10.80 EPS.

MHK has been the subject of a number of other research reports. Credit Suisse Group started coverage on Mohawk Industries in a research report on Wednesday, May 27th. They set an “underperform” rating and a $62.00 price objective for the company. Truist Financial reduced their price objective on Mohawk Industries from $119.00 to $98.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Wells Fargo & Company lifted their target price on Mohawk Industries from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Monday, August 10th. Nomura lifted their target price on Mohawk Industries from $107.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, ValuEngine lowered Mohawk Industries from a “hold” rating to a “sell” rating in a report on Friday, August 7th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Mohawk Industries presently has a consensus rating of “Hold” and an average target price of $102.20.

MHK stock opened at $95.88 on Monday. Mohawk Industries has a twelve month low of $56.62 and a twelve month high of $153.05. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The firm has a market cap of $6.83 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 3.92 and a beta of 1.53. The business has a 50 day moving average of $92.42 and a 200 day moving average of $88.65.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, August 6th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.46. Mohawk Industries had a return on equity of 6.40% and a net margin of 5.20%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the company earned $2.89 EPS. The business’s revenue was down 21.0% compared to the same quarter last year.

In related news, insider Cock Paul F. De sold 1,500 shares of Mohawk Industries stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $90.47, for a total transaction of $135,705.00. Following the transaction, the insider now directly owns 21,675 shares in the company, valued at $1,960,937.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.50% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in MHK. Rosenberg Matthew Hamilton purchased a new position in shares of Mohawk Industries in the second quarter valued at about $31,000. Canada Pension Plan Investment Board lifted its position in shares of Mohawk Industries by 510.1% in the first quarter. Canada Pension Plan Investment Board now owns 421 shares of the company’s stock valued at $32,000 after acquiring an additional 352 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Mohawk Industries by 492.3% in the second quarter. Orion Portfolio Solutions LLC now owns 385 shares of the company’s stock valued at $39,000 after acquiring an additional 320 shares in the last quarter. FDx Advisors Inc. purchased a new position in shares of Mohawk Industries in the first quarter valued at about $44,000. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Mohawk Industries by 22.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 770 shares of the company’s stock valued at $58,000 after acquiring an additional 142 shares in the last quarter. Institutional investors and hedge funds own 77.58% of the company’s stock.

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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