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

Mohawk Industries (NYSE:MHK) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.680-2.780 for the period, compared to the consensus EPS 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

A number of brokerages have weighed in on MHK. Barclays upped their target price on Mohawk Industries from $100.00 to $122.00 and gave the stock an equal weight rating in a research note on Monday, February 12th. TheStreet upgraded Mohawk Industries from a d+ rating to a c- rating in a report on Monday, March 4th. The Goldman Sachs Group upped their price objective on Mohawk Industries from $105.00 to $120.00 and gave the stock a buy rating in a report on Thursday, January 11th. StockNews.com upgraded Mohawk Industries from a hold rating to a buy rating in a report on Saturday, February 17th. Finally, Royal Bank of Canada increased their target price on Mohawk Industries from $101.00 to $106.00 and gave the company a sector perform rating in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $118.75.

Mohawk Industries Price Performance

NYSE:MHK traded up $5.18 on Friday, reaching $115.45. 1,100,161 shares of the company’s stock traded hands, compared to its average volume of 585,017. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. The stock has a 50-day simple moving average of $118.86 and a 200-day simple moving average of $103.23. The firm has a market cap of $7.35 billion, a PE ratio of -17.65 and a beta of 1.34. Mohawk Industries has a 12 month low of $76.02 and a 12 month high of $131.19.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.16. The firm 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 business’s revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.75 earnings per share. Equities research analysts forecast that Mohawk Industries will post 9.56 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Rodney David Patton sold 1,551 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were 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 owns 15,321 shares of the company’s stock, valued at $1,831,012.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 17.10% of the stock is currently 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.