Mohawk Industries, Inc. (NYSE:MHK) – Equities researchers at Gabelli decreased their FY2019 EPS estimates for Mohawk Industries in a research report issued to clients and investors on Monday, February 11th. Gabelli analyst A. Lacayo now expects that the company will earn $11.45 per share for the year, down from their previous estimate of $11.80. Gabelli also issued estimates for Mohawk Industries’ FY2020 earnings at $13.05 EPS, FY2021 earnings at $13.95 EPS, FY2022 earnings at $14.65 EPS and FY2023 earnings at $15.30 EPS.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 7th. The company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.04. Mohawk Industries had a net margin of 8.63% and a return on equity of 12.40%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the firm posted $3.42 EPS. The business’s revenue was up 3.4% compared to the same quarter last year.
Shares of MHK opened at $139.41 on Wednesday. The stock has a market capitalization of $10.07 billion, a PE ratio of 11.31, a P/E/G ratio of 1.76 and a beta of 1.49. Mohawk Industries has a fifty-two week low of $109.35 and a fifty-two week high of $254.46. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.68 and a current ratio of 1.38.
Mohawk Industries announced that its board has approved a stock repurchase program on Thursday, October 25th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In other Mohawk Industries news, insider Suzanne L. Helen sold 14,247 shares of the stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $140.43, for a total transaction of $2,000,706.21. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Rodney David Patton sold 763 shares of the stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $125.27, for a total transaction of $95,581.01. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 216,046 shares of company stock worth $26,149,264 and have sold 25,652 shares worth $3,467,296. Corporate insiders own 16.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC acquired a new stake in shares of Mohawk Industries in the 4th quarter valued at approximately $34,000. Parallel Advisors LLC boosted its stake in shares of Mohawk Industries by 123.4% in the 4th quarter. Parallel Advisors LLC now owns 353 shares of the company’s stock valued at $41,000 after purchasing an additional 195 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Mohawk Industries by 66.1% in the 4th quarter. CENTRAL TRUST Co now owns 407 shares of the company’s stock valued at $48,000 after purchasing an additional 162 shares in the last quarter. Patten Group Inc. boosted its stake in shares of Mohawk Industries by 350.9% in the 4th quarter. Patten Group Inc. now owns 514 shares of the company’s stock valued at $60,000 after purchasing an additional 400 shares in the last quarter. Finally, JOYN Advisors Inc. boosted its stake in shares of Mohawk Industries by 504.2% in the 4th quarter. JOYN Advisors Inc. now owns 574 shares of the company’s stock valued at $67,000 after purchasing an additional 479 shares in the last quarter. Hedge funds and other institutional investors own 80.85% of the company’s stock.
About Mohawk Industries
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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