Mohawk Industries, Inc. (MHK) Expected to Post Q3 2017 Earnings of $3.73 Per Share

Mohawk Industries, Inc. (NYSE:MHK) – Analysts at Northcoast Research issued their Q3 2017 earnings estimates for shares of Mohawk Industries in a research report issued on Thursday. Northcoast Research analyst K. Hocevar expects that the company will earn $3.73 per share for the quarter. Northcoast Research has a “Buy” rating and a $295.00 price target on the stock. Northcoast Research also issued estimates for Mohawk Industries’ Q4 2017 earnings at $3.37 EPS, FY2017 earnings at $13.55 EPS and FY2018 earnings at $14.95 EPS.

A number of other brokerages have also issued reports on MHK. ValuEngine upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Royal Bank Of Canada reiterated a “buy” rating and set a $291.00 target price on shares of Mohawk Industries in a research report on Monday, July 31st. BidaskClub upgraded Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price on the stock in a research report on Tuesday, July 4th. Finally, Cleveland Research lowered Mohawk Industries from a “buy” rating to a “neutral” rating in a research report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $270.33.

TRADEMARK VIOLATION WARNING: “Mohawk Industries, Inc. (MHK) Expected to Post Q3 2017 Earnings of $3.73 Per Share” was published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://sportsperspectives.com/2017/10/11/mohawk-industries-inc-mhk-expected-to-post-q3-2017-earnings-of-3-73-per-share.html.

Shares of Mohawk Industries (NYSE:MHK) opened at 254.83 on Monday. The firm’s 50-day moving average is $252.19 and its 200-day moving average is $242.59. Mohawk Industries has a 1-year low of $175.52 and a 1-year high of $259.91. The company’s market cap is $18.94 billion.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, July 27th. The company reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.12. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter last year, the business earned $3.47 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year.

In related news, VP Rodney David Patton sold 137 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $246.78, for a total value of $33,808.86. Following the completion of the transaction, the vice president now directly owns 6,924 shares of the company’s stock, valued at approximately $1,708,704.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total value of $5,022,515.00. Following the completion of the transaction, the chairman now directly owns 21,396 shares of the company’s stock, valued at $5,454,910.20. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Mohawk Industries by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,184,173 shares of the company’s stock valued at $1,494,654,000 after purchasing an additional 196,996 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Mohawk Industries by 8.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,029,444 shares of the company’s stock worth $1,215,567,000 after acquiring an additional 412,942 shares during the last quarter. BlackRock Inc. increased its stake in shares of Mohawk Industries by 5.8% in the 2nd quarter. BlackRock Inc. now owns 4,575,453 shares of the company’s stock worth $1,105,842,000 after acquiring an additional 250,944 shares during the last quarter. FMR LLC increased its stake in shares of Mohawk Industries by 3.9% in the 2nd quarter. FMR LLC now owns 2,796,757 shares of the company’s stock worth $675,948,000 after acquiring an additional 105,920 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Mohawk Industries by 0.3% in the 2nd quarter. Principal Financial Group Inc. now owns 1,211,095 shares of the company’s stock worth $292,710,000 after acquiring an additional 4,001 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

About Mohawk Industries

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.

Earnings History and Estimates for Mohawk Industries (NYSE:MHK)

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 MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply