Mohawk Industries (NYSE:MHK) Issues Q4 Earnings Guidance

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

Analysts Set New Price Targets

Several brokerages have recently commented on MHK. Royal Bank of Canada boosted their target price on shares of Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Jefferies Financial Group raised their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Loop Capital upped their target price on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Bank of America upgraded Mohawk Industries from an “underperform” rating to a “buy” rating and increased their price target for the stock from $120.00 to $177.00 in a research report on Friday, July 26th. Finally, Barclays boosted their price objective on Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.25.

Mohawk Industries Price Performance

Shares of NYSE MHK traded down $20.99 during midday trading on Friday, reaching $130.88. The company’s stock had a trading volume of 3,194,482 shares, compared to its average volume of 709,862. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The company has a market cap of $8.26 billion, a price-to-earnings ratio of -24.46, a price-to-earnings-growth ratio of 1.11 and a beta of 1.37. Mohawk Industries has a one year low of $76.02 and a one year high of $164.29. The company has a 50 day moving average price of $154.86 and a 200 day moving average price of $133.61.

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

Insider Activity at Mohawk Industries

In other news, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total value of $122,898.90. Following the transaction, the vice president now owns 12,299 shares of the company’s stock, valued at $2,002,031.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Rodney David Patton sold 755 shares of Mohawk Industries 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 transaction, the vice president now directly owns 12,299 shares in the company, valued at approximately $2,002,031.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Suzanne L. Helen sold 700 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the sale, the insider now 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 disclosure for this sale can be found here. In the last quarter, insiders sold 4,415 shares of company stock valued at $673,387. 17.10% of the stock is owned by corporate 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.