Mohawk Industries (NYSE:MHK) Releases Q4 2024 Earnings Guidance

Mohawk Industries (NYSE:MHK) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.770-1.870 for the period, compared to the consensus estimate of 2.240. The company issued revenue guidance of -. Mohawk Industries also updated its Q4 guidance to $1.77-1.87 EPS.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MHK shares. Wells Fargo & Company upgraded shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $140.00 to $160.00 in a report on Monday, October 7th. The Goldman Sachs Group boosted their target price on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $160.00 to $196.00 in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Loop Capital lifted their target price on shares of Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $166.25.

Mohawk Industries Trading Up 0.1 %

Shares of MHK stock traded up $0.17 on Thursday, hitting $151.87. 1,053,082 shares of the stock traded hands, compared to its average volume of 697,784. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. Mohawk Industries has a twelve month low of $76.02 and a twelve month high of $164.29. The firm’s 50-day moving average price is $154.86 and its two-hundred day moving average price is $133.61. The stock has a market capitalization of $9.70 billion, a PE ratio of -23.22, a PEG ratio of 1.23 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.75 by $0.25. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.76 EPS. As a group, analysts anticipate that Mohawk Industries will post 10 EPS for the current year.

Insider Activity

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