FY2018 EPS Estimates for Mohawk Industries, Inc. (MHK) Lifted by Jefferies Group

Mohawk Industries, Inc. (NYSE:MHK) – Equities research analysts at Jefferies Group boosted their FY2018 EPS estimates for shares of Mohawk Industries in a research report issued to clients and investors on Wednesday. Jefferies Group analyst P. Ng now expects that the company will post earnings of $15.86 per share for the year, up from their prior estimate of $14.81. Jefferies Group has a “Buy” rating and a $330.00 price target on the stock. Jefferies Group also issued estimates for Mohawk Industries’ FY2019 earnings at $18.08 EPS.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, October 26th. The company reported $3.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.74 by $0.01. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.46 billion. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.50 EPS.

A number of other equities analysts also recently issued reports on MHK. Cleveland Research downgraded Mohawk Industries from a “buy” rating to a “neutral” rating in a research note on Friday, September 22nd. Nomura reiterated a “buy” rating and set a $288.00 price target (up previously from $280.00) on shares of Mohawk Industries in a research note on Thursday, September 28th. Instinet reiterated a “buy” rating and set a $288.00 price target (up previously from $280.00) on shares of Mohawk Industries in a research note on Saturday, September 30th. Northcoast Research began coverage on Mohawk Industries in a research note on Thursday, October 5th. They set a “buy” rating and a $295.00 price target for the company. Finally, Zacks Investment Research cut shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $293.00.

Mohawk Industries (MHK) opened at $279.14 on Friday. The stock has a market capitalization of $20,670.63, a PE ratio of 21.64, a price-to-earnings-growth ratio of 2.27 and a beta of 1.37. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48. Mohawk Industries has a 12 month low of $204.51 and a 12 month high of $286.85.

Several large investors have recently bought and sold shares of MHK. Sun Life Financial INC raised its holdings in shares of Mohawk Industries by 5,675.0% in the 2nd quarter. Sun Life Financial INC now owns 462 shares of the company’s stock worth $112,000 after purchasing an additional 454 shares during the period. Daiwa SB Investments Ltd. bought a new stake in shares of Mohawk Industries in the 4th quarter worth approximately $199,000. Virtu Financial LLC bought a new stake in shares of Mohawk Industries in the 3rd quarter worth approximately $206,000. Teacher Retirement System of Texas purchased a new position in Mohawk Industries in the 3rd quarter valued at approximately $212,000. Finally, Private Trust Co. NA purchased a new position in Mohawk Industries in the 4th quarter valued at approximately $214,000. 76.55% of the stock is currently owned by institutional investors.

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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.

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

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