Mohawk Industries (NYSE:MHK) Releases Q4 Earnings Guidance

Mohawk Industries (NYSE:MHK) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.77-1.87 for the period, compared to the consensus estimate of $2.24.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada lifted their price objective on Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Truist Financial lifted their price objective on Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Loop Capital lifted their price objective on Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company raised shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $140.00 to $160.00 in a research note on Monday, October 7th. Five equities 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 stock. According to data from MarketBeat, Mohawk Industries has a consensus rating of “Moderate Buy” and an average price target of $166.25.

Mohawk Industries Stock Performance

NYSE MHK traded up $0.17 on Thursday, hitting $151.87. The stock had a trading volume of 1,055,770 shares, compared to its average volume of 697,721. Mohawk Industries has a one year low of $76.02 and a one year high of $164.29. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.22. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of -23.25, a P/E/G ratio of 1.23 and a beta of 1.37. The company’s 50-day moving average is $154.76 and its two-hundred day moving average is $133.48.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the prior year, the firm earned $2.76 EPS. Mohawk Industries’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts expect that Mohawk Industries will post 10 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Rodney David Patton sold 755 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the transaction, the vice president now directly owns 12,299 shares in the company, valued at $2,002,031.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Rodney David Patton sold 755 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the sale, the vice president now directly owns 12,299 shares in the company, valued at approximately $2,002,031.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Suzanne L. Helen sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total transaction of $102,879.00. Following the sale, the insider now owns 121,669 shares of the company’s stock, valued at $17,881,692.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,415 shares of company stock worth $673,387. Insiders own 17.10% of the company’s stock.

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.