Q2 2024 Earnings Estimate for Mohawk Industries, Inc. (NYSE:MHK) Issued By Zacks Research

Mohawk Industries, Inc. (NYSE:MHKFree Report) – Investment analysts at Zacks Research raised their Q2 2024 EPS estimates for Mohawk Industries in a report issued on Tuesday, May 14th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $2.71 for the quarter, up from their prior estimate of $2.67. The consensus estimate for Mohawk Industries’ current full-year earnings is $9.65 per share. Zacks Research also issued estimates for Mohawk Industries’ Q4 2024 earnings at $2.31 EPS, FY2024 earnings at $9.74 EPS, Q2 2025 earnings at $2.91 EPS and Q4 2025 earnings at $2.61 EPS.

Several other research firms have also commented on MHK. Loop Capital reduced their price objective on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Royal Bank of Canada increased their price objective on Mohawk Industries from $106.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, April 29th. Truist Financial boosted their target price on Mohawk Industries from $127.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. increased their price target on Mohawk Industries from $122.00 to $124.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and upped their price objective for the company from $98.00 to $152.00 in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Mohawk Industries has an average rating of “Hold” and an average price target of $121.33.

Check Out Our Latest Report on MHK

Mohawk Industries Stock Up 0.2 %

Shares of Mohawk Industries stock opened at $123.28 on Thursday. Mohawk Industries has a 1 year low of $76.02 and a 1 year high of $131.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.02. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of -18.85, a PEG ratio of 1.20 and a beta of 1.35. The firm’s 50-day moving average is $119.36 and its two-hundred day moving average is $106.73.

Mohawk Industries (NYSE:MHKGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.70 by $0.16. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.64 billion. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. Mohawk Industries’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period last year, the business posted $1.75 EPS.

Institutional Trading of Mohawk Industries

A number of hedge funds have recently added to or reduced their stakes in MHK. Texas Permanent School Fund Corp boosted its stake in shares of Mohawk Industries by 0.9% during the 1st quarter. Texas Permanent School Fund Corp now owns 10,927 shares of the company’s stock worth $1,430,000 after acquiring an additional 98 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Mohawk Industries by 5.5% during the fourth quarter. Fifth Third Bancorp now owns 2,006 shares of the company’s stock valued at $208,000 after acquiring an additional 105 shares during the last quarter. Quent Capital LLC increased its position in shares of Mohawk Industries by 27.2% during the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock worth $65,000 after purchasing an additional 106 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of Mohawk Industries by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 23,225 shares of the company’s stock worth $1,993,000 after purchasing an additional 120 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Mohawk Industries by 29.4% in the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after buying an additional 128 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the sale, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 17.10% of the company’s stock.

About Mohawk Industries

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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.

Further Reading

Earnings History and Estimates for Mohawk Industries (NYSE:MHK)

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