Mohawk Industries (MHK) Set to Announce Quarterly Earnings on Thursday

Mohawk Industries (NYSE:MHK) is scheduled to issue its quarterly earnings data after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $2.89 per share for the quarter. Mohawk Industries has set its Q3 guidance at $2.80-2.90 EPS and its Q3 2024 guidance at 2.800-2.900 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $0.25. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.76 earnings per share. On average, analysts expect Mohawk Industries to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Mohawk Industries Price Performance

Shares of NYSE:MHK opened at $160.96 on Thursday. The company has a market cap of $10.28 billion, a P/E ratio of -24.61, a P/E/G ratio of 1.23 and a beta of 1.37. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. Mohawk Industries has a 52 week low of $76.02 and a 52 week high of $164.05. The business has a fifty day simple moving average of $153.23 and a 200-day simple moving average of $132.15.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada lifted their target price on Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Jefferies Financial Group lifted their target price on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Truist Financial lifted their target price on Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group lifted their target price on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Mohawk Industries presently has a consensus rating of “Moderate Buy” and an average price target of $163.25.

Insider Transactions at Mohawk Industries

In other news, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at approximately $2,002,031.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Suzanne L. Helen sold 2,300 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $151.15, for a total value of $347,645.00. Following the completion of the sale, the insider now directly owns 119,369 shares of the company’s stock, valued at $18,042,624.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were 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 directly owns 12,299 shares of the company’s stock, valued at approximately $2,002,031.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,415 shares of company stock valued at $673,387. 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.