Mohawk Industries (MHK) Set to Announce Quarterly Earnings on Thursday

Mohawk Industries (NYSE:MHK) will be announcing its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.69 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Mohawk Industries (NYSE:MHK) last released its earnings results on Friday, February 9th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.10. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the company earned $1.32 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. 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

NYSE:MHK opened at $109.95 on Tuesday. Mohawk Industries has a 12-month low of $76.02 and a 12-month high of $131.19. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $7.00 billion, a PE ratio of -15.89 and a beta of 1.34. The firm has a 50-day moving average price of $119.13 and a 200 day moving average price of $102.52.

Wall Street Analyst Weigh In

MHK has been the subject of several recent research reports. Royal Bank of Canada increased their price target on shares of Mohawk Industries from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, February 12th. Truist Financial increased their price target on shares of Mohawk Industries from $98.00 to $127.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. The Goldman Sachs Group increased their price target on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Barclays raised their price objective on shares of Mohawk Industries from $100.00 to $122.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Finally, StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $118.75.

Insider Activity at Mohawk Industries

In related 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 value of $185,360.01. Following the completion of the sale, the vice president now owns 15,321 shares of the company’s stock, valued at $1,831,012.71. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 17.10% of the stock is currently owned by company insiders.

Mohawk Industries Company Profile

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.