Zacks Research Has Negative Outlook for MHK FY2024 Earnings

Mohawk Industries, Inc. (NYSE:MHK) – Equities researchers at Zacks Research cut their FY2024 earnings per share (EPS) estimates for Mohawk Industries in a report released on Thursday, November 14th. Zacks Research analyst R. Department now forecasts that the company will post earnings of $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.

A number of other equities research analysts have also recently issued reports on MHK. Bank of America upgraded Mohawk Industries from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $120.00 to $177.00 in a report on Friday, July 26th. Loop Capital lifted their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th. The Goldman Sachs Group lifted their price target on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Barclays dropped their price target on shares of Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Finally, Truist Financial dropped their price target on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $162.08.

Mohawk Industries Trading Down 2.0 %

Shares of NYSE:MHK opened at $135.64 on Monday. Mohawk Industries has a 12-month low of $82.71 and a 12-month high of $164.29. The stock has a market cap of $8.56 billion, a PE ratio of 15.36, a P/E/G ratio of 1.55 and a beta of 1.38. The business has a 50 day moving average of $150.29 and a 200-day moving average of $136.98. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling at Mohawk Industries

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 transaction of $99,963.60. Following the completion of the transaction, the insider now directly owns 118,709 shares in the company, valued at approximately $17,979,665.14. This represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Signaturefd LLC boosted its position in Mohawk Industries by 12.5% during the third quarter. Signaturefd LLC now owns 683 shares of the company’s stock valued at $110,000 after acquiring an additional 76 shares during the last quarter. Quest Partners LLC boosted its position in 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 acquiring an additional 84 shares during the last quarter. State of Michigan Retirement System boosted its position in Mohawk Industries by 0.7% during the second quarter. State of Michigan Retirement System now owns 14,545 shares of the company’s stock valued at $1,652,000 after acquiring an additional 100 shares during the last quarter. Allworth Financial LP boosted its position 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 in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of Mohawk Industries by 7.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock worth $266,000 after purchasing an additional 115 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

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.