Zacks: Analysts Anticipate Mohawk Industries, Inc. (MHK) to Post $3.59 EPS
Wall Street analysts forecast that Mohawk Industries, Inc. (NYSE:MHK) will post earnings per share (EPS) of $3.59 for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Mohawk Industries’ earnings, with the highest EPS estimate coming in at $3.62 and the lowest estimate coming in at $3.54. Mohawk Industries posted earnings of $3.75 per share during the same quarter last year, which would indicate a negative year over year growth rate of 4.3%. The business is scheduled to issue its next quarterly earnings results after the market closes on Thursday, October 25th.
According to Zacks, analysts expect that Mohawk Industries will report full-year earnings of $13.66 per share for the current fiscal year, with EPS estimates ranging from $13.50 to $13.77. For the next year, analysts expect that the business will post earnings of $15.04 per share, with EPS estimates ranging from $14.31 to $16.00. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Mohawk Industries.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Wednesday, July 25th. The company reported $3.51 EPS for the quarter, missing the Zacks’ consensus estimate of $3.90 by ($0.39). The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.59 billion. Mohawk Industries had a net margin of 9.34% and a return on equity of 14.35%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.72 EPS.
In other Mohawk Industries news, insider Bernard Thiers sold 5,000 shares of Mohawk Industries stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $190.00, for a total transaction of $950,000.00. Following the transaction, the insider now directly owns 40,156 shares of the company’s stock, valued at approximately $7,629,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jeffrey S. Lorberbaum sold 13,400 shares of Mohawk Industries stock in a transaction on Friday, September 14th. The stock was sold at an average price of $186.74, for a total transaction of $2,502,316.00. Following the transaction, the chairman now directly owns 45,187 shares in the company, valued at $8,438,220.38. The disclosure for this sale can be found here. Insiders have acquired a total of 110,000 shares of company stock worth $20,167,250 over the last ninety days. Insiders own 16.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank increased its position in shares of Mohawk Industries by 2.9% during the second quarter. Amalgamated Bank now owns 8,025 shares of the company’s stock valued at $1,720,000 after buying an additional 225 shares during the period. BerganKDV Wealth Management LLC increased its position in shares of Mohawk Industries by 6.5% during the second quarter. BerganKDV Wealth Management LLC now owns 4,061 shares of the company’s stock valued at $870,000 after buying an additional 247 shares during the period. Federated Investors Inc. PA increased its position in shares of Mohawk Industries by 8.8% during the second quarter. Federated Investors Inc. PA now owns 3,439 shares of the company’s stock valued at $737,000 after buying an additional 277 shares during the period. Providence Capital Advisors LLC increased its position in shares of Mohawk Industries by 4.7% during the second quarter. Providence Capital Advisors LLC now owns 6,502 shares of the company’s stock valued at $1,393,000 after buying an additional 289 shares during the period. Finally, Riverhead Capital Management LLC increased its position in shares of Mohawk Industries by 14.7% during the second quarter. Riverhead Capital Management LLC now owns 2,363 shares of the company’s stock valued at $506,000 after buying an additional 303 shares during the period. 81.43% of the stock is currently owned by hedge funds and other institutional investors.
MHK stock traded down $1.98 during midday trading on Monday, reaching $150.31. 802,158 shares of the company’s stock traded hands, compared to its average volume of 1,052,804. The firm has a market capitalization of $11.36 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.61 and a beta of 1.29. The company has a current ratio of 1.74, a quick ratio of 0.99 and a debt-to-equity ratio of 0.26. Mohawk Industries has a 52 week low of $148.47 and a 52 week high of $286.85.
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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