Brokers Issue Forecasts for Mohawk Industries, Inc.’s FY2017 Earnings (MHK)
Mohawk Industries, Inc. (NYSE:MHK) – Research analysts at Northcoast Research cut their FY2017 EPS estimates for shares of Mohawk Industries in a note issued to investors on Tuesday. Northcoast Research analyst K. Hocevar now anticipates that the company will post earnings of $13.51 per share for the year, down from their prior forecast of $13.55. Northcoast Research has a “Buy” rating and a $295.00 price objective on the stock. Northcoast Research also issued estimates for Mohawk Industries’ Q4 2017 earnings at $3.32 EPS and FY2018 earnings at $14.75 EPS.
Several other equities research analysts have also issued reports on MHK. BidaskClub upgraded shares of Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $267.00 target price on shares of Mohawk Industries in a research report on Monday, July 24th. MKM Partners reiterated a “buy” rating and set a $286.00 target price (up from $255.00) on shares of Mohawk Industries in a research report on Wednesday, August 2nd. Zacks Investment Research lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $279.15.
WARNING: This story was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another site, it was illegally copied and reposted in violation of U.S. and international copyright laws. The correct version of this story can be viewed at https://www.watchlistnews.com/brokers-issue-forecasts-for-mohawk-industries-inc-s-fy2017-earnings-mhk/1675064.html.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, October 26th. The company reported $3.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.74 by $0.01. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.50 EPS.
In other news, VP Rodney David Patton sold 137 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $246.78, for a total value of $33,808.86. Following the completion of the sale, the vice president now directly owns 6,924 shares in the company, valued at approximately $1,708,704.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the completion of the sale, the chairman now owns 21,396 shares of the company’s stock, valued at $5,454,910.20. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. KCG Holdings Inc. purchased a new position in shares of Mohawk Industries in the first quarter worth $252,000. Highbridge Capital Management LLC purchased a new position in shares of Mohawk Industries in the first quarter worth $344,000. Credit Suisse AG increased its stake in shares of Mohawk Industries by 11.0% in the first quarter. Credit Suisse AG now owns 96,018 shares of the company’s stock worth $22,035,000 after buying an additional 9,522 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Mohawk Industries by 5.6% in the first quarter. Nomura Asset Management Co. Ltd. now owns 7,969 shares of the company’s stock worth $1,829,000 after buying an additional 422 shares during the period. Finally, KAMES CAPITAL plc increased its stake in shares of Mohawk Industries by 9.5% in the second quarter. KAMES CAPITAL plc now owns 11,248 shares of the company’s stock worth $2,719,000 after buying an additional 973 shares during the period. Hedge funds and other institutional investors own 76.91% of the company’s stock.
Mohawk Industries Company Profile
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.
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 Analyst Ratings Network's FREE daily email newsletter.