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

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

Mohawk Industries Stock Down 13.8 %

Shares of MHK stock traded down $20.99 during midday trading on Friday, reaching $130.88. 3,194,482 shares of the stock were exchanged, compared to its average volume of 709,862. The firm has a market cap of $8.26 billion, a PE ratio of -24.46, a price-to-earnings-growth 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. The company’s 50 day moving average is $154.86 and its two-hundred day moving average is $133.61. Mohawk Industries has a 1 year low of $76.02 and a 1 year high of $164.29.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, October 24th. The company reported $2.90 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.71 billion. On average, equities research analysts predict that Mohawk Industries will post 9.98 EPS for the current year.

Analyst Upgrades and Downgrades

MHK has been the topic of a number of research analyst reports. Loop Capital increased their price objective 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. Royal Bank of Canada raised their price target on Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Truist Financial upped their price objective on Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Bank of America raised Mohawk Industries from an “underperform” rating to a “buy” rating and raised their target price for the stock from $120.00 to $177.00 in a research report on Friday, July 26th. Finally, Jefferies Financial Group upped their price target on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.25.

Insider Activity at Mohawk Industries

In other news, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the transaction, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mohawk Industries news, VP Rodney David Patton sold 755 shares of the firm’s stock in a transaction dated 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 of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suzanne L. Helen sold 660 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the sale, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,415 shares of company stock valued at $673,387. 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.