Zacks Research Has Negative Estimate for MHK FY2024 Earnings

Mohawk Industries, Inc. (NYSE:MHK) – Analysts at Zacks Research cut their FY2024 EPS estimates for Mohawk Industries in a note issued to 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.

A number of other equities analysts also recently weighed in on the company. Loop Capital upped their target price on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. upped their price objective on shares of Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Jefferies Financial Group boosted their price target on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company upgraded Mohawk Industries from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $140.00 to $160.00 in a report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.08.

Mohawk Industries Trading Down 1.3 %

Mohawk Industries stock opened at $138.47 on Monday. The company has a 50 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 quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries has a 52 week low of $82.71 and a 52 week high of $164.29. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 1.54 and a beta of 1.38.

Institutional Investors Weigh In On Mohawk Industries

A number of hedge funds have recently bought and sold shares of the company. Signaturefd LLC grew its stake in shares of Mohawk Industries by 12.5% in the third quarter. Signaturefd LLC now owns 683 shares of the company’s stock worth $110,000 after acquiring an additional 76 shares during the last quarter. Quest Partners LLC grew its position in Mohawk Industries by 40.0% in the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after purchasing an additional 84 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of Mohawk Industries by 0.7% during the 2nd quarter. State of Michigan Retirement System now owns 14,545 shares of the company’s stock worth $1,652,000 after purchasing an additional 100 shares during the period. Allworth Financial LP increased its holdings in shares of Mohawk Industries by 20.6% during the 3rd quarter. Allworth Financial LP now owns 626 shares of the company’s stock worth $101,000 after purchasing an additional 107 shares during the period. Finally, Hantz Financial Services Inc. lifted its stake in shares of Mohawk Industries by 7.5% in the third quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock valued at $266,000 after buying an additional 115 shares during the period. 78.98% of the stock is currently owned by institutional investors.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the transaction, the insider now owns 118,709 shares in the company, valued at $17,979,665.14. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 17.10% of the stock is currently owned by corporate 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.