Wall Street brokerages forecast that Mohawk Industries, Inc. (NYSE:MHK) will announce $2.45 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Mohawk Industries’ earnings, with the lowest sales estimate coming in at $2.41 billion and the highest estimate coming in at $2.49 billion. Mohawk Industries posted sales of $2.37 billion during the same quarter last year, which suggests a positive year over year growth rate of 3.4%. The firm is expected to report its next earnings results on Thursday, February 14th.

On average, analysts expect that Mohawk Industries will report full-year sales of $9.98 billion for the current financial year, with estimates ranging from $9.91 billion to $10.02 billion. For the next financial year, analysts expect that the business will report sales of $10.41 billion, with estimates ranging from $10.17 billion to $10.67 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Mohawk Industries.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, October 25th. The company reported $3.29 EPS for the quarter, missing the consensus estimate of $3.58 by ($0.29). The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.61 billion. Mohawk Industries had a return on equity of 13.49% and a net margin of 8.81%.

Several analysts have commented on MHK shares. Jefferies Financial Group lowered Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Loop Capital set a $122.00 price objective on Mohawk Industries and gave the company a “hold” rating in a report on Friday, October 26th. Nomura dropped their price objective on Mohawk Industries from $260.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Raymond James dropped their price objective on Mohawk Industries from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Wednesday, October 10th. Finally, Bank of America lowered Mohawk Industries from a “buy” rating to an “underperform” rating and set a $137.00 price objective on the stock. in a report on Monday, October 29th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $171.63.

Mohawk Industries stock traded down $2.57 during midday trading on Monday, hitting $120.44. 1,114,497 shares of the company were exchanged, compared to its average volume of 866,539. The company has a quick ratio of 0.79, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. Mohawk Industries has a fifty-two week low of $113.45 and a fifty-two week high of $282.32. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 1.50 and a beta of 1.61.

Mohawk Industries announced that its Board of Directors has initiated a share buyback program on Thursday, October 25th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

In other news, insider Suzanne L. Helen sold 10,642 shares of Mohawk Industries stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $128.83, for a total value of $1,371,008.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bernard Thiers sold 5,000 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $190.00, for a total value of $950,000.00. Following the completion of the sale, the insider now directly owns 40,156 shares in the company, valued at $7,629,640. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 340,898 shares of company stock worth $40,917,073 and sold 29,805 shares worth $4,918,906. Insiders own 16.80% of the company’s stock.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Mohawk Industries by 0.5% in the third quarter. Vanguard Group Inc. now owns 6,421,024 shares of the company’s stock worth $1,125,927,000 after acquiring an additional 29,538 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Mohawk Industries by 2.2% in the second quarter. BlackRock Inc. now owns 6,257,455 shares of the company’s stock worth $1,340,786,000 after acquiring an additional 134,039 shares during the last quarter. Select Equity Group L.P. boosted its stake in shares of Mohawk Industries by 20.6% in the second quarter. Select Equity Group L.P. now owns 1,959,024 shares of the company’s stock worth $419,760,000 after acquiring an additional 334,869 shares during the last quarter. First Pacific Advisors LP acquired a new stake in shares of Mohawk Industries in the third quarter worth approximately $277,086,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Mohawk Industries by 16.2% in the third quarter. Wells Fargo & Company MN now owns 1,273,539 shares of the company’s stock worth $223,315,000 after acquiring an additional 177,109 shares during the last quarter. 78.20% of the stock is currently owned by hedge funds and other 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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