Mohawk Industries (NYSE:MHK - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.680-2.780 for the period, compared to the consensus estimate of 2.680. The company issued revenue guidance of -. Mohawk Industries also updated its Q2 guidance to $2.68-2.78 EPS.
Mohawk Industries Trading Down 1.0 %
Shares of Mohawk Industries stock traded down $1.13 on Thursday, hitting $110.27. The stock had a trading volume of 818,742 shares, compared to its average volume of 705,769. The stock has a 50 day moving average of $118.99 and a 200 day moving average of $102.80. Mohawk Industries has a twelve month low of $76.02 and a twelve month high of $131.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 1.78. The firm has a market capitalization of $7.02 billion, a P/E ratio of -15.68 and a beta of 1.34.
Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.68 by $0.18. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The company's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.75 EPS. Sell-side analysts expect that Mohawk Industries will post 9.56 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on MHK. StockNews.com upgraded Mohawk Industries from a hold rating to a buy rating in a report on Saturday, February 17th. TheStreet upgraded Mohawk Industries from a d+ rating to a c- rating in a research note on Monday, March 4th. Wells Fargo & Company dropped their price objective on Mohawk Industries from $105.00 to $100.00 and set an underweight rating on the stock in a research note on Monday, January 22nd. Truist Financial lifted their target price on Mohawk Industries from $98.00 to $127.00 and gave the stock a buy rating in a research note on Tuesday, February 13th. Finally, The Goldman Sachs Group lifted their target price on Mohawk Industries from $105.00 to $120.00 and gave the stock a buy rating in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $118.75.
Read Our Latest Stock Analysis on Mohawk Industries
Insider Buying and Selling
In related news, VP Rodney David Patton sold 1,551 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the sale, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 17.10% of the stock is currently owned by corporate insiders.
Mohawk Industries Company Profile
(
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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.
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