Equities analysts predict that Mohawk Industries, Inc. (NYSE:MHK) will report $2.61 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Mohawk Industries’ earnings. The highest sales estimate is $2.66 billion and the lowest is $2.57 billion. Mohawk Industries posted sales of $2.45 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 6.5%. The business is expected to announce its next quarterly earnings report after the market closes on Thursday, October 25th.

On average, analysts expect that Mohawk Industries will report full year sales of $10.15 billion for the current fiscal year, with estimates ranging from $10.05 billion to $10.24 billion. For the next year, analysts expect that the company will post sales of $10.76 billion, with estimates ranging from $10.49 billion to $11.07 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Mohawk Industries.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Wednesday, July 25th. The company reported $3.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.90 by ($0.39). The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Mohawk Industries had a net margin of 9.34% and a return on equity of 14.35%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.72 EPS.

Several analysts have weighed in on MHK shares. Zacks Investment Research downgraded Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. ValuEngine downgraded Mohawk Industries from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 26th. SunTrust Banks reiterated a “buy” rating and set a $270.00 price target on shares of Mohawk Industries in a research note on Friday, July 27th. Raymond James downgraded Mohawk Industries from a “strong-buy” rating to an “outperform” rating in a research note on Friday, July 27th. Finally, Stifel Nicolaus dropped their price target on Mohawk Industries from $290.00 to $235.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $225.07.

Mohawk Industries stock traded down $1.98 during trading hours on Wednesday, hitting $150.31. 802,158 shares of the stock traded hands, compared to its average volume of 1,052,804. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.99 and a current ratio of 1.74. The company has a market cap of $11.36 billion, a PE ratio of 11.04, a PEG ratio of 1.61 and a beta of 1.29. Mohawk Industries has a 1 year low of $148.47 and a 1 year high of $286.85.

In other news, Chairman Jeffrey S. Lorberbaum sold 13,400 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $186.74, for a total value of $2,502,316.00. Following the sale, the chairman now owns 45,187 shares in the company, valued at $8,438,220.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Filip Balcaen bought 50,000 shares of the stock in a transaction dated Friday, July 27th. The stock was bought at an average price of $183.02 per share, for a total transaction of $9,151,000.00. Following the purchase, the director now directly owns 776 shares of the company’s stock, valued at $142,023.52. The disclosure for this purchase can be found here. Insiders bought 110,000 shares of company stock worth $20,167,250 in the last 90 days. Company insiders own 16.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Qube Research & Technologies Ltd purchased a new position in Mohawk Industries during the second quarter worth approximately $110,000. Captrust Financial Advisors boosted its position in Mohawk Industries by 2,250.0% during the second quarter. Captrust Financial Advisors now owns 705 shares of the company’s stock worth $151,000 after purchasing an additional 675 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Mohawk Industries during the second quarter worth approximately $159,000. NuWave Investment Management LLC boosted its position in Mohawk Industries by 686.4% during the second quarter. NuWave Investment Management LLC now owns 810 shares of the company’s stock worth $173,000 after purchasing an additional 707 shares in the last quarter. Finally, Cerebellum GP LLC boosted its position in Mohawk Industries by 292.6% during the second quarter. Cerebellum GP LLC now owns 844 shares of the company’s stock worth $181,000 after purchasing an additional 629 shares in the last quarter. Hedge funds and other institutional investors own 81.43% of the company’s stock.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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

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