Mohawk Industries (NYSE:MHK) Updates Q2 2024 Earnings Guidance

Mohawk Industries (NYSE:MHK) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.680-2.780 for the period, compared to the consensus estimate of 2.680. The company issued revenue guidance of -. Mohawk Industries also updated its Q2 guidance to $2.68-2.78 EPS.

Analyst Upgrades and Downgrades

MHK has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Mohawk Industries from $105.00 to $100.00 and set an underweight rating on the stock in a research report on Monday, January 22nd. Barclays upped their price target on shares of Mohawk Industries from $100.00 to $122.00 and gave the company an equal weight rating in a report on Monday, February 12th. Royal Bank of Canada upped their price target on shares of Mohawk Industries from $101.00 to $106.00 and gave the company a sector perform rating in a report on Monday, February 12th. TheStreet raised shares of Mohawk Industries from a d+ rating to a c- rating in a report on Monday, March 4th. Finally, Truist Financial upped their price target on shares of Mohawk Industries from $98.00 to $127.00 and gave the company a buy rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Mohawk Industries currently has a consensus rating of Hold and a consensus price target of $118.75.

Mohawk Industries Trading Up 4.7 %

MHK stock traded up $5.18 during mid-day trading on Friday, reaching $115.45. 1,100,161 shares of the stock traded hands, compared to its average volume of 585,017. The company has a market cap of $7.35 billion, a P/E ratio of -17.65 and a beta of 1.34. Mohawk Industries has a 52-week low of $76.02 and a 52-week high of $131.19. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $118.86 and its 200-day moving average is $103.23.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. Mohawk Industries had a positive return on equity of 7.71% and a negative net margin of 3.77%. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the company earned $1.75 EPS. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. As a group, sell-side analysts expect that Mohawk Industries will post 9.56 earnings per share for the current year.

Insider Buying and Selling at Mohawk Industries

In related news, VP Rodney David Patton sold 1,551 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the transaction, the vice president now directly owns 15,321 shares of the company’s stock, valued at $1,831,012.71. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 17.10% of the company’s stock.

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.