Mohawk Industries (NYSE:MHK – Get Free Report) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.800-2.900 for the period, compared to the consensus estimate of 2.710. The company issued revenue guidance of -. Mohawk Industries also updated its Q3 guidance to $2.80-2.90 EPS.
Analyst Ratings Changes
A number of analysts recently commented on the company. Loop Capital decreased their price target on Mohawk Industries from $140.00 to $135.00 and set a buy rating for the company in a research report on Monday, April 29th. Truist Financial decreased their price target on Mohawk Industries from $140.00 to $135.00 and set a buy rating for the company in a research report on Wednesday, July 10th. Raymond James raised Mohawk Industries from a market perform rating to a strong-buy rating and set a $140.00 price target for the company in a research report on Monday, June 10th. Royal Bank of Canada raised their target price on Mohawk Industries from $106.00 to $108.00 and gave the stock a sector perform rating in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. raised their target price on Mohawk Industries from $122.00 to $124.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $127.45.
Check Out Our Latest Analysis on MHK
Mohawk Industries Stock Performance
Mohawk Industries (NYSE:MHK – Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.24. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the company earned $2.76 earnings per share. On average, analysts anticipate that Mohawk Industries will post 9.51 earnings per share for the current fiscal year.
Insider Activity at Mohawk Industries
In related news, insider Suzanne L. Helen sold 1,800 shares of Mohawk Industries stock in a transaction on Friday, June 14th. The stock was sold at an average price of $111.74, for a total transaction of $201,132.00. Following the completion of the sale, the insider now owns 122,369 shares of the company’s stock, valued at $13,673,512.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.10% of the stock is owned by corporate 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.
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