Mohawk Industries (NYSE:MHK – Get Free Report) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.68-2.78 for the period, compared to the consensus estimate of $2.68. Mohawk Industries also updated its Q2 2024 guidance to 2.680-2.780 EPS.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. StockNews.com raised Mohawk Industries from a hold rating to a buy rating in a research note on Saturday, February 17th. Deutsche Bank Aktiengesellschaft raised Mohawk Industries from a hold rating to a buy rating and raised their price objective for the company from $98.00 to $152.00 in a research note on Monday, February 12th. Royal Bank of Canada raised their price objective on Mohawk Industries from $101.00 to $106.00 and gave the company a sector perform rating in a research note on Monday, February 12th. TheStreet raised Mohawk Industries from a d+ rating to a c- rating in a research note on Monday, March 4th. Finally, Truist Financial raised their price objective on Mohawk Industries from $98.00 to $127.00 and gave the company a buy rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $118.75.
Get Our Latest Analysis on MHK
Mohawk Industries Stock Up 4.7 %
Mohawk Industries (NYSE:MHK – Get Free Report) last posted its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. Mohawk Industries had a positive return on equity of 7.71% and a negative net margin of 3.77%. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the company earned $1.75 earnings per share. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, research analysts expect that Mohawk Industries will post 9.56 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the sale, the vice president now directly owns 15,321 shares in the company, valued at $1,831,012.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.10% of the stock is currently owned by corporate 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.
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