Mohawk Industries (NYSE:MHK – Get Free Report) updated its second quarter earnings guidance on Thursday. 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.
Analysts Set New Price Targets
Several research firms recently issued reports on MHK. Wells Fargo & Company reduced their price objective on shares of Mohawk Industries from $105.00 to $100.00 and set an underweight rating for the company in a research note on Monday, January 22nd. StockNews.com raised shares of Mohawk Industries from a hold rating to a buy rating in a research note on Saturday, February 17th. The Goldman Sachs Group lifted their price objective on shares of Mohawk Industries from $105.00 to $120.00 and gave the company a buy rating in a research note on Thursday, January 11th. Truist Financial boosted their target price on shares of Mohawk Industries from $98.00 to $127.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. Finally, Barclays boosted their target price on shares of Mohawk Industries from $100.00 to $122.00 and gave the stock an equal weight rating in a research report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Mohawk Industries currently has a consensus rating of Hold and an average price target of $118.75.
Get Our Latest Analysis on MHK
Mohawk Industries Stock Performance
Mohawk Industries (NYSE:MHK – Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.16. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.71%. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 earnings per share. Equities research analysts anticipate that Mohawk Industries will post 9.56 earnings per share for the current fiscal year.
Insider Activity
In related news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.10% of the stock is owned by 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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