Mohawk Industries (NYSE:MHK) Updates Q4 Earnings Guidance

Mohawk Industries (NYSE:MHK) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.77-1.87 for the period, compared to the consensus earnings per share estimate of $2.24. Mohawk Industries also updated its Q4 2024 guidance to 1.770-1.870 EPS.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Truist Financial raised their target price on Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Bank of America raised Mohawk Industries from an “underperform” rating to a “buy” rating and raised their target price for the stock from $120.00 to $177.00 in a research report on Friday, July 26th. Royal Bank of Canada lifted their price objective on Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. The Goldman Sachs Group lifted their price objective on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $160.00 to $196.00 in a report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $166.25.

Mohawk Industries Stock Down 13.8 %

Shares of NYSE MHK opened at $130.88 on Friday. The firm’s 50-day simple moving average is $154.55 and its 200 day simple moving average is $133.72. The company has a market cap of $8.26 billion, a price-to-earnings ratio of -23.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.37. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 12-month low of $76.02 and a 12-month high of $164.29.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, October 24th. The company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.01. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.71 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. On average, research analysts expect that Mohawk Industries will post 9.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Rodney David Patton sold 755 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the transaction, the vice president now owns 12,299 shares in the company, valued at $2,002,031.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total transaction of $102,879.00. Following the completion of the sale, the insider now directly owns 121,669 shares of the company’s stock, valued at approximately $17,881,692.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at $2,002,031.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,415 shares of company stock worth $673,387 in the last 90 days. Corporate insiders own 17.10% of the company’s stock.

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.