FY2018 EPS Estimates for Mohawk Industries, Inc. (MHK) Lifted by Analyst
Mohawk Industries, Inc. (NYSE:MHK) – Gabelli raised their FY2018 earnings per share (EPS) estimates for Mohawk Industries in a research note issued to investors on Monday. Gabelli analyst A. Lacayo now anticipates that the company will post earnings per share of $15.85 for the year, up from their prior forecast of $14.65. Gabelli also issued estimates for Mohawk Industries’ FY2019 earnings at $17.50 EPS, FY2020 earnings at $18.85 EPS and FY2021 earnings at $19.70 EPS.
Several other research analysts have also recently commented on the company. Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Nomura set a $300.00 target price on Mohawk Industries and gave the stock a “buy” rating in a research report on Friday, October 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $300.00 target price (up from $291.00) on shares of Mohawk Industries in a research report on Monday, October 30th. ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Barclays raised their target price on Mohawk Industries from $285.00 to $301.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Mohawk Industries has a consensus rating of “Buy” and a consensus target price of $295.62.
Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, February 8th. The company reported $3.42 EPS for the quarter, topping the consensus estimate of $3.32 by $0.10. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Mohawk Industries had a return on equity of 15.44% and a net margin of 10.24%. Mohawk Industries’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $3.26 earnings per share.
Institutional investors have recently added to or reduced their stakes in the business. NuWave Investment Management LLC acquired a new stake in shares of Mohawk Industries in the fourth quarter valued at $117,000. Cerebellum GP LLC acquired a new stake in shares of Mohawk Industries in the fourth quarter valued at $124,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Mohawk Industries in the fourth quarter valued at $124,000. Calton & Associates Inc. acquired a new stake in shares of Mohawk Industries in the fourth quarter valued at $171,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Mohawk Industries in the fourth quarter valued at $174,000. Hedge funds and other institutional investors own 76.51% 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’ 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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