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Based in Calhoun, Georgia, Mohawk Industries, Inc. (MHK), with a market cap of $7 billion, is a leading global manufacturer in the flooring products sector, offering a wide range of residential and commercial solutions worldwide. The company is expected to announce its fiscal Q2 earnings results after the market closes on Thursday, Jul. 25.
Ahead of this event, analysts expect MHK to report a profit of $2.75 per share, down marginally from $2.76 per share in the year-ago quarter. The company has surpassed Wall Street's bottom-line estimates in each of the last four quarterly reports. Restructuring efforts, productivity initiatives, and cost efficiencies helped the company surpass the consensus EPS estimate by 9.4% in the most recent quarter.
For fiscal 2024, analysts expect MHK to report EPS of $9.68, up 5.3% from $9.19 in fiscal 2023.
Shares of Mohawk Industries have surged 4.4% over the past 52 weeks, lagging behind both the S&P 500 Index's ($SPX) 26.8% gains and the S&P 500 Cons Disc Sector SPDR's (XLY) 11.9% return over the same time frame.
Shares of Mohawk Industries surged 6.6% on Feb. 12 due to Deutsche Bank's rating upgrade and a significant increase in the price target, signaling favorable analyst sentiment and potential future upside. Moreover, the stock rose 4.7% following its better-than-expected Q1 earnings results announced on April 25. Despite a slight decrease in net sales, the market responded positively to Mohawk Industries' effective cost management, productivity initiatives, and strategic investments in new product innovations.
Analysts' consensus rating on Mohawk Industries stock is cautious, with a "Hold" rating overall. Out of 13 analysts covering the stock, four recommend a "Strong Buy," seven give a "Hold," one advises a "Moderate Sell" rating, and one suggests a "Strong Sell" rating. This configuration is more bullish than three months ago, with three analysts suggesting a "Strong Buy."
The average analyst price target for MHK is $123.92, suggesting a potential upside of 11.4% from the current levels.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
