Mohawk Industries, Inc. Forecasted to Earn FY2024 Earnings of $9.93 Per Share (NYSE:MHK)

Mohawk Industries, Inc. (NYSE:MHK) – Stock analysts at Zacks Research raised their FY2024 earnings estimates for shares of Mohawk Industries in a research note issued on Monday, September 16th. Zacks Research analyst R. Department now expects that the company will earn $9.93 per share for the year, up from their prior estimate of $9.92. The consensus estimate for Mohawk Industries’ current full-year earnings is $10.00 per share. Zacks Research also issued estimates for Mohawk Industries’ Q3 2025 earnings at $3.18 EPS and FY2026 earnings at $13.51 EPS.

MHK has been the subject of several other reports. The Goldman Sachs Group upped their target price on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Truist Financial increased their price objective on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Raymond James upgraded shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 target price for the company in a report on Monday, June 10th. Royal Bank of Canada increased their price target on shares of Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Finally, Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $120.00 to $177.00 in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and an average price target of $156.00.

Mohawk Industries Trading Up 1.1 %

Shares of MHK opened at $156.61 on Thursday. Mohawk Industries has a fifty-two week low of $76.02 and a fifty-two week high of $164.05. The stock has a fifty day moving average of $146.64 and a two-hundred day moving average of $127.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. The company has a market capitalization of $10.00 billion, a PE ratio of -23.95, a price-to-earnings-growth ratio of 1.15 and a beta of 1.37.

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

Institutional Investors Weigh In On Mohawk Industries

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quest Partners LLC raised its holdings in shares of Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after buying an additional 84 shares during the last quarter. Quarry LP raised its stake in Mohawk Industries by 70.4% during the 4th quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after acquiring an additional 174 shares in the last quarter. Headlands Technologies LLC acquired a new position in Mohawk Industries during the 2nd quarter worth $50,000. Quent Capital LLC grew its stake in shares of Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock worth $65,000 after purchasing an additional 106 shares in the last quarter. Finally, TFO Wealth Partners LLC increased its holdings in shares of Mohawk Industries by 32,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock valued at $67,000 after purchasing an additional 650 shares during the period. 78.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 660 shares of the company’s 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 completion of the transaction, the insider now directly owns 118,709 shares in the company, valued at $17,979,665.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the transaction, the vice president now owns 12,299 shares in the company, valued at $2,002,031.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Suzanne L. Helen sold 660 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the transaction, the insider now directly owns 118,709 shares of the company’s stock, valued at approximately $17,979,665.14. The disclosure for this sale can be found here. Insiders sold a total of 4,415 shares of company stock worth $673,387 in the last 90 days. 17.10% of the stock is owned by company 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.