FY2024 EPS Estimate for Mohawk Industries Lowered by Analyst

Mohawk Industries, Inc. (NYSE:MHK) – Equities research analysts at Zacks Research cut their FY2024 earnings per share estimates for shares of Mohawk Industries in a report released on Thursday, November 14th. Zacks Research analyst R. Department now anticipates that the company will earn $9.59 per share for the year, down from their prior 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 research firms have also recently issued reports on MHK. Wells Fargo & Company raised Mohawk Industries from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $140.00 to $160.00 in a research note on Monday, October 7th. Bank of America raised Mohawk Industries from an “underperform” rating to a “buy” rating and increased their price target for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. Royal Bank of Canada decreased their price target on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, The Goldman Sachs Group upped their price objective on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Mohawk Industries currently has an average rating of “Moderate Buy” and a consensus target price of $162.08.

Mohawk Industries Price Performance

Shares of MHK opened at $140.33 on Monday. The company has a market cap of $8.86 billion, a P/E ratio of 15.89, a PEG ratio of 1.54 and a beta of 1.38. The stock has a fifty day moving average price of $150.79 and a 200 day moving average price of $136.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. Mohawk Industries has a 12 month low of $82.71 and a 12 month high of $164.29.

Insider Buying and Selling

In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of the company’s 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 transaction, the insider now directly owns 118,709 shares of the company’s stock, valued at $17,979,665.14. This represents a 0.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quest Partners LLC increased its holdings in shares of Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after acquiring an additional 84 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Mohawk Industries during the 3rd quarter valued at about $36,000. Headlands Technologies LLC acquired a new position in shares of Mohawk Industries during the 2nd quarter valued at about $50,000. Blue Trust Inc. increased its holdings in shares of Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after acquiring an additional 167 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of Mohawk Industries during the 3rd quarter valued at about $61,000. 78.98% of the stock is owned by institutional investors and hedge funds.

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.