Mohawk Industries Inc. (MHK) to Post FY2016 Earnings of $12.50 Per Share, Gabelli Forecasts
Mohawk Industries Inc. (NYSE:MHK) – Stock analysts at Gabelli boosted their FY2016 EPS estimates for shares of Mohawk Industries in a report released on Monday. Gabelli analyst A. Lacayo now anticipates that the firm will post earnings of $12.50 per share for the year, up from their previous estimate of $12.35. Gabelli currently has a “Buy” rating on the stock. Gabelli also issued estimates for Mohawk Industries’ FY2017 earnings at $13.30 EPS, FY2018 earnings at $14.05 EPS, FY2019 earnings at $14.85 EPS and FY2020 earnings at $15.45 EPS.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.04. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Mohawk Industries had a return on equity of 17.22% and a net margin of 10.12%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.98 earnings per share.
A number of other research firms have also issued reports on MHK. RBC Capital Markets reiterated an “outperform” rating and issued a $245.00 target price (up from $220.00) on shares of Mohawk Industries in a report on Wednesday, August 10th. MKM Partners lifted their target price on Mohawk Industries from $244.00 to $246.00 and gave the company a “buy” rating in a report on Monday, August 8th. Zacks Investment Research upgraded Mohawk Industries from a “sell” rating to a “hold” rating and set a $238.00 target price for the company in a report on Tuesday, August 9th. Wells Fargo & Co. started coverage on Mohawk Industries in a report on Wednesday, September 28th. They issued a “market perform” rating for the company. Finally, Bank of America Corp. upgraded Mohawk Industries from a “neutral” rating to a “buy” rating and set a $235.00 target price for the company in a report on Wednesday, October 12th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Mohawk Industries presently has an average rating of “Buy” and an average target price of $227.20.
Mohawk Industries (NYSE:MHK) opened at 202.38 on Wednesday. The stock has a 50 day moving average price of $194.78 and a 200-day moving average price of $199.17. The firm’s market capitalization is $15.01 billion. Mohawk Industries has a one year low of $148.56 and a one year high of $216.58.
Hedge funds have recently bought and sold shares of the company. MSI Financial Services Inc boosted its stake in Mohawk Industries by 13.1% in the third quarter. MSI Financial Services Inc now owns 597 shares of the company’s stock worth $120,000 after buying an additional 69 shares during the period. Tower Research Capital LLC TRC boosted its stake in Mohawk Industries by 612.2% in the second quarter. Tower Research Capital LLC TRC now owns 641 shares of the company’s stock worth $122,000 after buying an additional 551 shares during the period. Cornerstone Advisors Inc. boosted its stake in Mohawk Industries by 5,954.5% in the third quarter. Cornerstone Advisors Inc. now owns 666 shares of the company’s stock worth $133,000 after buying an additional 655 shares during the period. Checchi Capital Advisers LLC boosted its stake in Mohawk Industries by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 843 shares of the company’s stock worth $160,000 after buying an additional 18 shares during the period. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in Mohawk Industries during the second quarter worth approximately $166,000. Institutional investors and hedge funds own 78.55% of the company’s stock.
In other news, insider Suzanne L. Helen sold 4,600 shares of Mohawk Industries stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $216.00, for a total transaction of $993,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 9,300 shares of Mohawk Industries stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $214.00, for a total value of $1,990,200.00. The disclosure for this sale can be found here. Insiders own 17.10% of the company’s stock.
About Mohawk Industries
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. It operates in three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, manufactures, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, manufactures, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products.
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