Zacks Research Has Negative Outlook for MHK FY2024 Earnings

Mohawk Industries, Inc. (NYSE:MHK) – Investment analysts at Zacks Research dropped their FY2024 earnings per share estimates for shares of Mohawk Industries in a research report issued to clients and investors on Thursday, November 14th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $9.59 for the year, down from their previous forecast of $9.93. The consensus estimate for Mohawk Industries’ current full-year earnings is $9.62 per share. Zacks Research also issued estimates for Mohawk Industries’ Q1 2025 earnings at $1.88 EPS, FY2025 earnings at $10.85 EPS, Q2 2026 earnings at $3.70 EPS and Q3 2026 earnings at $3.74 EPS.

Several other brokerages also recently commented on MHK. The Goldman Sachs Group raised their price objective on Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Barclays dropped their price objective on Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, Bank of America raised Mohawk Industries from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. Five research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.08.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock opened at $135.64 on Monday. The company has a market capitalization of $8.56 billion, a PE ratio of 15.36, a PEG ratio of 1.55 and a beta of 1.38. Mohawk Industries has a 12 month low of $82.71 and a 12 month high of $164.29. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $150.29 and its 200 day simple moving average is $136.98.

Institutional Trading of Mohawk Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank grew its holdings in Mohawk Industries by 96.0% during the third quarter. Toronto Dominion Bank now owns 20,414 shares of the company’s stock worth $3,280,000 after purchasing an additional 9,997 shares during the period. Coldstream Capital Management Inc. bought a new position in Mohawk Industries during the third quarter worth about $221,000. M&T Bank Corp grew its holdings in Mohawk Industries by 9.1% during the third quarter. M&T Bank Corp now owns 3,517 shares of the company’s stock worth $565,000 after purchasing an additional 293 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Mohawk Industries by 1.7% during the third quarter. Public Employees Retirement System of Ohio now owns 20,569 shares of the company’s stock worth $3,305,000 after purchasing an additional 336 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Mohawk Industries by 11.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,518 shares of the company’s stock worth $244,000 after purchasing an additional 161 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the sale, the insider now owns 118,709 shares of the company’s stock, valued at approximately $17,979,665.14. The trade was a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.10% of the stock is owned by company 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.