Mohawk Industries (MHK) to Release Quarterly Earnings on Thursday

Mohawk Industries (NYSE:MHK) is scheduled to be releasing its earnings data after the market closes on Thursday, April 25th. Analysts expect Mohawk Industries to post earnings of $1.69 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Friday, February 9th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.10. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. Mohawk Industries’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.32 EPS. On average, analysts expect Mohawk Industries to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Mohawk Industries Stock Performance

MHK opened at $108.27 on Thursday. The stock has a market cap of $6.90 billion, a PE ratio of -15.65 and a beta of 1.34. Mohawk Industries has a 1 year low of $76.02 and a 1 year high of $131.19. The stock’s 50 day simple moving average is $119.33 and its 200-day simple moving average is $101.82. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22.

Insiders Place Their Bets

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the sale, the vice president now directly owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 17.10% of the company’s stock.

Institutional Trading of Mohawk Industries

A number of institutional investors have recently made changes to their positions in the business. Kinneret Advisory LLC grew its holdings in shares of Mohawk Industries by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 3,451 shares of the company’s stock valued at $429,000 after acquiring an additional 77 shares in the last quarter. Captrust Financial Advisors grew its stake in Mohawk Industries by 3.3% in the first quarter. Captrust Financial Advisors now owns 2,708 shares of the company’s stock valued at $336,000 after purchasing an additional 86 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of Mohawk Industries by 0.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 23,105 shares of the company’s stock worth $2,384,000 after purchasing an additional 110 shares during the last quarter. UBS Group AG raised its stake in shares of Mohawk Industries by 1.5% during the 1st quarter. UBS Group AG now owns 9,436 shares of the company’s stock worth $946,000 after purchasing an additional 140 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Mohawk Industries by 143.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 307 shares of the company’s stock valued at $31,000 after buying an additional 181 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

Wall Street Analyst Weigh In

MHK has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research note on Monday, January 22nd. TheStreet raised shares of Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Royal Bank of Canada raised their price target on shares of Mohawk Industries from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, February 12th. Barclays upped their price objective on Mohawk Industries from $100.00 to $122.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded Mohawk Industries from a “hold” rating to a “buy” rating and boosted their target price for the stock from $98.00 to $152.00 in a research report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $117.56.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.