Mohawk Industries (NYSE:MHK) Issues Q4 Earnings Guidance

Mohawk Industries (NYSE:MHK) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.77-1.87 for the period, compared to the consensus EPS estimate of $2.24. Mohawk Industries also updated its Q4 2024 guidance to 1.770-1.870 EPS.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $130.88 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The stock has a market cap of $8.26 billion, a PE ratio of -23.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.37. The stock has a 50-day moving average of $154.55 and a 200-day moving average of $133.72. Mohawk Industries has a one year low of $76.02 and a one year high of $164.29.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, October 24th. The company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.01. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. As a group, sell-side analysts expect that Mohawk Industries will post 9.98 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MHK shares. Loop Capital upped their price target on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada increased their target price 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. Barclays increased their target price on Mohawk Industries from $118.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. increased their target price on Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group increased their target price on Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.25.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $17,979,665.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Rodney David Patton sold 755 shares of the 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 sale, the vice president now owns 12,299 shares of the company’s stock, valued at approximately $2,002,031.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Suzanne L. Helen sold 660 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were 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 directly owns 118,709 shares of the company’s stock, 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. Insiders sold a total of 4,415 shares of company stock valued at $673,387 in the last quarter. 17.10% of the stock is currently owned by 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.