Mohawk Industries (NYSE:MHK) Releases Q2 Earnings Guidance

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

Mohawk Industries Trading Up 4.7 %

NYSE:MHK traded up $5.18 on Friday, reaching $115.45. 1,100,161 shares of the stock traded hands, compared to its average volume of 585,017. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of -17.65 and a beta of 1.34. Mohawk Industries has a 1-year low of $76.02 and a 1-year 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 company’s 50 day moving average is $118.86 and its 200-day moving average is $103.23.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Mohawk Industries had a positive return on equity of 7.71% and a negative net margin of 3.77%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.75 EPS. Equities research analysts anticipate that Mohawk Industries will post 9.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. StockNews.com raised Mohawk Industries from a hold rating to a buy rating in a research report on Saturday, February 17th. Royal Bank of Canada boosted their price objective on Mohawk Industries from $101.00 to $106.00 and gave the company a sector perform rating in a report on Monday, February 12th. Barclays upped their target price on Mohawk Industries from $100.00 to $122.00 and gave the stock an equal weight rating in a report on Monday, February 12th. The Goldman Sachs Group upped their target price on Mohawk Industries from $105.00 to $120.00 and gave the stock a buy rating in a report on Thursday, January 11th. Finally, Truist Financial increased their price objective on Mohawk Industries from $98.00 to $127.00 and gave the company a buy rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $118.75.

Insider Transactions at Mohawk Industries

In other news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the sale, the vice president now owns 15,321 shares in the company, valued at $1,831,012.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.