Jefferies Group Comments on Mohawk Industries, Inc.’s Q1 2018 Earnings (MHK)
Mohawk Industries, Inc. (NYSE:MHK) – Research analysts at Jefferies Group lowered their Q1 2018 EPS estimates for Mohawk Industries in a report released on Monday. Jefferies Group analyst P. Ng now expects that the company will post earnings of $2.98 per share for the quarter, down from their previous estimate of $2.99. Jefferies Group has a “Buy” rating and a $330.00 price objective 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.
A number of other equities analysts have also issued reports on MHK. Robert W. Baird decreased their price target on Mohawk Industries from $312.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $303.00 price target for the company in a research note on Monday, February 5th. ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. increased their price target on Mohawk Industries from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Finally, Longbow Research raised Mohawk Industries from a “neutral” rating to a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $295.62.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, February 8th. The company reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.10. Mohawk Industries had a return on equity of 15.44% and a net margin of 10.24%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the company posted $3.26 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NuWave Investment Management LLC bought a new stake in shares of Mohawk Industries during the 4th quarter worth $117,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Mohawk Industries during the 4th quarter worth $124,000. Cerebellum GP LLC bought a new stake in shares of Mohawk Industries during the 4th quarter worth $124,000. Calton & Associates Inc. bought a new stake in shares of Mohawk Industries during the 4th quarter worth $171,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Mohawk Industries during the 4th quarter worth $174,000. 76.51% of the stock is owned by institutional investors and hedge funds.
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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.
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