What is Zacks Research’s Estimate for MHK FY2024 Earnings?

Mohawk Industries, Inc. (NYSE:MHK) – Stock analysts at Zacks Research reduced their FY2024 EPS estimates for Mohawk Industries in a research note issued on Thursday, November 14th. Zacks Research analyst R. Department now forecasts that the company will earn $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.

Several other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Wells Fargo & Company upgraded shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $140.00 to $160.00 in a research note on Monday, October 7th. Loop Capital lifted their price target on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Barclays decreased their price objective on shares of Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Five equities research 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.08.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $138.47 on Monday. The stock’s 50-day moving average is $150.79 and its two-hundred day moving average is $136.68. The company has a market cap of $8.74 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 1.54 and a beta of 1.38. Mohawk Industries has a 1-year low of $82.71 and a 1-year high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction that occurred 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 sale, the insider now owns 118,709 shares in the company, valued at $17,979,665.14. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mohawk Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC bought a new position in shares of Mohawk Industries during the first quarter valued at approximately $1,450,000. State Board of Administration of Florida Retirement System raised its stake in shares of Mohawk Industries by 20.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 61,447 shares of the company’s stock worth $8,043,000 after buying an additional 10,274 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Mohawk Industries by 0.3% in the first quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock valued at $819,067,000 after buying an additional 17,541 shares during the period. Maverick Capital Ltd. bought a new position in Mohawk Industries during the second quarter valued at about $1,253,000. Finally, Thompson Siegel & Walmsley LLC grew its holdings in Mohawk Industries by 115.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 90,784 shares of the company’s stock worth $10,312,000 after acquiring an additional 48,653 shares during the period. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

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.