Mohawk Industries, Inc. to Post Q4 2019 Earnings of $2.67 Per Share, Jefferies Financial Group Forecasts (NYSE:MHK)

Mohawk Industries, Inc. (NYSE:MHK) – Analysts at Jefferies Financial Group decreased their Q4 2019 earnings estimates for shares of Mohawk Industries in a report issued on Tuesday, April 30th, according to Zacks Investment Research. Jefferies Financial Group analyst P. Ng now expects that the company will post earnings per share of $2.67 for the quarter, down from their previous estimate of $2.87. Jefferies Financial Group currently has a “Buy” rating and a $167.00 target price on the stock.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, April 25th. The company reported $2.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.06. Mohawk Industries had a net margin of 7.73% and a return on equity of 11.36%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the company posted $3.01 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year.

A number of other equities research analysts have also weighed in on the stock. ValuEngine upgraded shares of Mohawk Industries from a “strong sell” rating to a “sell” rating in a report on Wednesday. Stifel Nicolaus upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and raised their price objective for the company from $135.00 to $180.00 in a report on Wednesday. Loop Capital set a $130.00 price objective on shares of Mohawk Industries and gave the company a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Mohawk Industries from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Robert W. Baird set a $156.00 price objective on shares of Mohawk Industries and gave the company a “buy” rating in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $149.53.

Shares of MHK opened at $138.69 on Wednesday. Mohawk Industries has a twelve month low of $109.35 and a twelve month high of $228.49. The firm has a market capitalization of $9.85 billion, a PE ratio of 11.25, a PEG ratio of 2.45 and a beta of 1.53. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 0.20.

In related news, VP Rodney David Patton sold 2,260 shares of Mohawk Industries stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $133.50, for a total transaction of $301,710.00. Following the sale, the vice president now directly owns 9,134 shares in the company, valued at approximately $1,219,389. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 18.00% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of Mohawk Industries by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 430,950 shares of the company’s stock worth $75,568,000 after purchasing an additional 1,279 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Mohawk Industries by 13.2% during the third quarter. Macquarie Group Ltd. now owns 25,300 shares of the company’s stock valued at $4,436,000 after buying an additional 2,950 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in shares of Mohawk Industries during the third quarter valued at $750,000. Legal & General Group Plc grew its holdings in shares of Mohawk Industries by 11.4% during the third quarter. Legal & General Group Plc now owns 330,596 shares of the company’s stock valued at $57,970,000 after buying an additional 33,749 shares during the last quarter. Finally, Vanguard Group Inc grew its holdings in shares of Mohawk Industries by 0.5% during the third quarter. Vanguard Group Inc now owns 6,421,024 shares of the company’s stock valued at $1,125,927,000 after buying an additional 29,538 shares during the last quarter. 81.58% of the stock is owned by institutional investors.

Mohawk Industries Company Profile

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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