Mohawk Industries (NYSE:MHK) Updates Q2 Earnings Guidance

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays increased 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. Deutsche Bank Aktiengesellschaft raised Mohawk Industries from a hold rating to a buy rating and increased their target price for the stock from $98.00 to $152.00 in a report on Monday, February 12th. The Goldman Sachs Group raised their price target on Mohawk Industries from $105.00 to $120.00 and gave the stock a buy rating in a report on Thursday, January 11th. Wells Fargo & Company cut their price target on Mohawk Industries from $105.00 to $100.00 and set an underweight rating on the stock in a report on Monday, January 22nd. Finally, Truist Financial raised their price target on Mohawk Industries from $98.00 to $127.00 and gave the stock a buy rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Mohawk Industries currently has a consensus rating of Hold and a consensus target price of $118.75.

Mohawk Industries Stock Up 4.7 %

Shares of Mohawk Industries stock traded up $5.18 during midday trading on Friday, hitting $115.45. The company’s stock had a trading volume of 1,100,161 shares, compared to its average volume of 585,017. The firm has a market capitalization of $7.35 billion, a P/E ratio of -17.65 and a beta of 1.34. The stock has a 50-day simple moving average of $118.86 and a 200-day simple moving average of $103.09. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 1-year low of $76.02 and a 1-year high of $131.19.

Mohawk Industries (NYSE:MHK) last released 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 firm had revenue of $2.68 billion during 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 for the quarter was down 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 earnings per share. As a group, sell-side analysts expect that Mohawk Industries will post 9.56 earnings per share for the current year.

Insider Transactions at Mohawk Industries

In other news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries 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 transaction, the vice president now directly owns 15,321 shares in the company, valued at $1,831,012.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 17.10% of the stock is currently owned by corporate insiders.

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.