Mohawk Industries, Inc. (MHK) Expected to Post Quarterly Sales of $2.46 Billion

Brokerages expect Mohawk Industries, Inc. (NYSE:MHK) to announce sales of $2.46 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Mohawk Industries’ earnings. The highest sales estimate is $2.48 billion and the lowest is $2.44 billion. Mohawk Industries reported sales of $2.29 billion during the same quarter last year, which indicates a positive year over year growth rate of 7.4%. The business is expected to issue its next quarterly earnings results after the market closes on Thursday, October 26th.

On average, analysts expect that Mohawk Industries will report full year sales of $2.46 billion for the current year, with estimates ranging from $9.43 billion to $9.65 billion. For the next year, analysts anticipate that the firm will report sales of $10.07 billion per share, with estimates ranging from $9.92 billion to $10.25 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Mohawk Industries.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 27th. The company reported $3.72 EPS for the quarter, topping the consensus estimate of $3.60 by $0.12. Mohawk Industries had a return on equity of 16.72% and a net margin of 10.67%. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter last year, the company earned $3.47 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year.

Several analysts have issued reports on the company. ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Northcoast Research assumed coverage on Mohawk Industries in a report on Thursday, October 5th. They set a “buy” rating and a $295.00 price target for the company. Zacks Investment Research lowered Mohawk Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Cleveland Research lowered Mohawk Industries from a “buy” rating to a “neutral” rating in a report on Friday, September 22nd. Finally, MKM Partners reissued a “buy” rating and set a $286.00 price target (up previously from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $273.55.

Shares of Mohawk Industries (NYSE MHK) traded up 1.33% on Tuesday, reaching $264.52. The company’s stock had a trading volume of 358,852 shares. Mohawk Industries has a 12-month low of $175.52 and a 12-month high of $264.68. The company’s market capitalization is $19.66 billion. The company’s 50-day moving average is $254.52 and its 200 day moving average is $244.12.

ILLEGAL ACTIVITY WARNING: “Mohawk Industries, Inc. (MHK) Expected to Post Quarterly Sales of $2.46 Billion” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://ledgergazette.com/2017/10/20/mohawk-industries-inc-mhk-expected-to-post-quarterly-sales-of-2-46-billion.html.

In other news, VP Rodney David Patton sold 137 shares of the company’s stock in a transaction dated 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 owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was 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 approximately $5,454,910.20. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Aviva PLC boosted its stake in Mohawk Industries by 1.1% during the second quarter. Aviva PLC now owns 38,875 shares of the company’s stock valued at $9,396,000 after buying an additional 410 shares during the last quarter. American Century Companies Inc. bought a new position in Mohawk Industries during the second quarter valued at approximately $53,508,000. Utah Retirement Systems boosted its stake in Mohawk Industries by 0.9% during the second quarter. Utah Retirement Systems now owns 11,397 shares of the company’s stock valued at $2,754,000 after buying an additional 100 shares during the last quarter. Swiss National Bank boosted its stake in Mohawk Industries by 3.2% during the second quarter. Swiss National Bank now owns 230,474 shares of the company’s stock valued at $55,703,000 after buying an additional 7,100 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in Mohawk Industries during the first quarter valued at approximately $1,278,000. 76.91% of the stock is owned by institutional investors.

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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On average, analysts expect that Mohawk Industries will report full year sales of $2.46 billion for the current year, with estimates ranging from $9.43 billion to $9.65 billion. For the next year, analysts anticipate that the firm will report sales of $10.07 billion per share, with estimates ranging from $9.92 billion to $10.25 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Mohawk Industries.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 27th. The company reported $3.72 EPS for the quarter, topping the consensus estimate of $3.60 by $0.12. Mohawk Industries had a return on equity of 16.72% and a net margin of 10.67%. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter last year, the company earned $3.47 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year.

Several analysts have issued reports on the company. ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Northcoast Research assumed coverage on Mohawk Industries in a report on Thursday, October 5th. They set a “buy” rating and a $295.00 price target for the company. Zacks Investment Research lowered Mohawk Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Cleveland Research lowered Mohawk Industries from a “buy” rating to a “neutral” rating in a report on Friday, September 22nd. Finally, MKM Partners reissued a “buy” rating and set a $286.00 price target (up previously from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $273.55.

Shares of Mohawk Industries (NYSE MHK) traded up 1.33% on Tuesday, reaching $264.52. The company’s stock had a trading volume of 358,852 shares. Mohawk Industries has a 12-month low of $175.52 and a 12-month high of $264.68. The company’s market capitalization is $19.66 billion. The company’s 50-day moving average is $254.52 and its 200 day moving average is $244.12.

ILLEGAL ACTIVITY WARNING: “Mohawk Industries, Inc. (MHK) Expected to Post Quarterly Sales of $2.46 Billion” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://ledgergazette.com/2017/10/20/mohawk-industries-inc-mhk-expected-to-post-quarterly-sales-of-2-46-billion.html.

In other news, VP Rodney David Patton sold 137 shares of the company’s stock in a transaction dated 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 owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was 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 approximately $5,454,910.20. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Aviva PLC boosted its stake in Mohawk Industries by 1.1% during the second quarter. Aviva PLC now owns 38,875 shares of the company’s stock valued at $9,396,000 after buying an additional 410 shares during the last quarter. American Century Companies Inc. bought a new position in Mohawk Industries during the second quarter valued at approximately $53,508,000. Utah Retirement Systems boosted its stake in Mohawk Industries by 0.9% during the second quarter. Utah Retirement Systems now owns 11,397 shares of the company’s stock valued at $2,754,000 after buying an additional 100 shares during the last quarter. Swiss National Bank boosted its stake in Mohawk Industries by 3.2% during the second quarter. Swiss National Bank now owns 230,474 shares of the company’s stock valued at $55,703,000 after buying an additional 7,100 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in Mohawk Industries during the first quarter valued at approximately $1,278,000. 76.91% of the stock is owned by institutional investors.

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

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