Mohawk Industries (NYSE:MHK) Updates Q4 Earnings Guidance

Mohawk Industries (NYSE:MHK) issued an update on its fourth quarter earnings guidance on Thursday morning. 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 Analysts Forecast Growth

A number of equities analysts have commented on the stock. Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “buy” rating and boosted their price target for the company from $120.00 to $177.00 in a research report on Friday, July 26th. The Goldman Sachs Group raised their price target on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday. JPMorgan Chase & Co. increased their target price on Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Barclays lifted their price target on Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $166.25.

Mohawk Industries Trading Down 13.8 %

Shares of NYSE:MHK traded down $20.99 during trading on Friday, hitting $130.88. 3,194,482 shares of the company’s stock were exchanged, compared to its average volume of 709,862. The firm has a 50-day moving average price of $154.86 and a two-hundred day moving average price of $133.61. Mohawk Industries has a 1-year low of $76.02 and a 1-year high of $164.29. The firm has a market cap of $8.26 billion, a P/E ratio of -24.46, a PEG ratio of 1.11 and a beta of 1.37. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, October 24th. The company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.01. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.71 billion. Equities analysts predict that Mohawk Industries will post 9.98 earnings per share for the current year.

Insider Activity

In related 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 transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Rodney David Patton sold 755 shares of the company’s stock in a transaction 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 completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the transaction, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,415 shares of company stock valued at $673,387 in the last ninety days. 17.10% of the stock is owned by insiders.

About Mohawk Industries

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.