Q3 2024 Earnings Estimate for Mohawk Industries, Inc. Issued By Zacks Research (NYSE:MHK)

Mohawk Industries, Inc. (NYSE:MHK) – Stock analysts at Zacks Research upped their Q3 2024 earnings estimates for Mohawk Industries in a report issued on Wednesday, August 14th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $2.87 for the quarter, up from their prior forecast of $2.86. The consensus estimate for Mohawk Industries’ current full-year earnings is $9.90 per share. Zacks Research also issued estimates for Mohawk Industries’ Q4 2024 earnings at $2.19 EPS, Q3 2025 earnings at $3.17 EPS, FY2025 earnings at $10.92 EPS and Q1 2026 earnings at $2.84 EPS.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.25. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The company’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company earned $2.76 earnings per share.

A number of other equities research analysts have also weighed in on the stock. Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $120.00 to $177.00 in a report on Friday, July 26th. Wells Fargo & Company upped their price target on shares of Mohawk Industries from $110.00 to $140.00 and gave the company an “underweight” rating in a report on Monday, July 29th. Robert W. Baird upped their price target on shares of Mohawk Industries from $132.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Barclays upped their price target on shares of Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada upped their price target on shares of Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Mohawk Industries has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Mohawk Industries Trading Down 1.0 %

Shares of MHK opened at $147.84 on Monday. The firm has a market cap of $9.44 billion, a price-to-earnings ratio of -22.61, a PEG ratio of 1.23 and a beta of 1.38. 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 fifty-two week low of $76.02 and a fifty-two week high of $164.05. The firm has a 50 day moving average price of $129.17 and a 200-day moving average price of $121.83.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total transaction of $102,879.00. Following the transaction, the insider now owns 121,669 shares in the company, valued at approximately $17,881,692.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, 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 transaction, the insider now owns 121,669 shares in the company, valued at approximately $17,881,692.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Suzanne L. Helen sold 1,800 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $111.74, for a total transaction of $201,132.00. Following the completion of the transaction, the insider now owns 122,369 shares in the company, valued at approximately $13,673,512.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,255 shares of company stock valued at $426,910. 17.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Mohawk Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC grew its holdings in shares of Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after purchasing an additional 84 shares in the last quarter. Quarry LP grew its holdings in shares of Mohawk Industries by 70.4% in the fourth quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after purchasing an additional 174 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Mohawk Industries in the second quarter valued at $50,000. Quent Capital LLC grew its holdings in shares of Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after purchasing an additional 106 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Mohawk Industries by 29.4% in the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after purchasing an additional 128 shares in the last quarter. Institutional investors own 78.98% 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.