These Analysts Cut Their Forecasts On Mohawk Industries After Q3 Results

Benzinga

28 Oct 2024

Mohawk Industries, Inc. (NYSE:MHK) reported better-than-expected results for its third quarter, after the closing bell on Thursday.

The company posted quarterly earnings of $2.90 per share which beat the analyst consensus estimate of $2.89 per share. The company reported quarterly sales of $2.719 billion which beat the analyst consensus estimate of $2.700 billion.

Chairman and CEO Jeff Lorberbaum stated, “We delivered a solid performance in soft market conditions, which reflects the positive impact of our sales initiatives, productivity and restructuring actions as well as lower input costs, partially offset by pricing and mix pressure. Due to our increased earnings and management of working capital, we generated free cash flow of $204 million in the quarter, for a total of $443 million year to date. This year, we are investing approximately $450 million in capital projects focused on growth, reducing costs and asset maintenance.”

Mohawk shares gained 2.6% to trade at $134.23 on Monday.

These analysts made changes to their price targets on Mohawk following earnings announcement.

Truist Securities analyst Keith Hughes maintained Mohawk Industries with a Buy and lowered the price target from $184 to $155.
Barclays analyst Matthew Bouley maintained the stock with an Equal-Weight and cut the price target from $161 to $146.

Considering buying MHK stock? Here’s what analysts think:

Read More:

Top 3 Industrials Care Stocks That Plunge This Month

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The company reported quarterly sales of $2.719 billion which beat the analyst consensus estimate of $2.700 billion.</p>\n<p>Chairman and CEO Jeff Lorberbaum stated, “We delivered a solid performance in soft market conditions, which reflects the positive impact of our sales initiatives, productivity and restructuring actions as well as lower input costs, partially offset by pricing and mix pressure. Due to our increased earnings and management of working capital, we generated free cash flow of $204 million in the quarter, for a total of $443 million year to date. This year, we are investing approximately $450 million in capital projects focused on growth, reducing costs and asset maintenance.”</p>\n<p>Mohawk shares gained 2.6% to trade at $134.23 on Monday.</p>\n<p>These analysts made changes to their price targets on Mohawk following earnings announcement.</p>\n<ul>\n<li>Truist Securities analyst Keith Hughes maintained Mohawk Industries with a Buy and lowered the price target from $184 to $155.</li>\n<li>Barclays analyst Matthew Bouley maintained the stock with an Equal-Weight and cut the price target from $161 to $146.</li>\n</ul>\n<p><strong>Considering buying MHK stock? 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The company reported quarterly sales of $2.719 billion which beat the analyst consensus estimate of $2.700 billion.</p>\n<p>Chairman and CEO Jeff Lorberbaum stated, “We delivered a solid performance in soft market conditions, which reflects the positive impact of our sales initiatives, productivity and restructuring actions as well as lower input costs, partially offset by pricing and mix pressure. Due to our increased earnings and management of working capital, we generated free cash flow of $204 million in the quarter, for a total of $443 million year to date. This year, we are investing approximately $450 million in capital projects focused on growth, reducing costs and asset maintenance.”</p>\n<p>Mohawk shares gained 2.6% to trade at $134.23 on Monday.</p>\n<p>These analysts made changes to their price targets on Mohawk following earnings announcement.</p>\n<ul>\n<li>Truist Securities analyst Keith Hughes maintained Mohawk Industries with a Buy and lowered the price target from $184 to $155.</li>\n<li>Barclays analyst Matthew Bouley maintained the stock with an Equal-Weight and cut the price target from $161 to $146.</li>\n</ul>\n<p><strong>Considering buying MHK stock? Here’s what analysts think:</strong> </p>\n<figure><img decoding=\"async\" height=\"543\" loading=\"lazy\" sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28105827/image-281-1024x543.png\" srcset=\"https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28105827/image-281-1024x543.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28105827/image-281-300x159.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28105827/image-281-768x407.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28105827/image-281.png 1210w\" width=\"1024\"/></figure>\n<p><strong>Read More:</strong></p>\n<ul>\n<li><strong> Top 3 Industrials Care Stocks That Plunge This Month</strong></li>\n</ul></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://www.benzinga.com/news/earnings/24/10/41577826/these-analysts-cut-their-forecasts-on-mohawk-industries-after-q3-results","article_id":"2478480350","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2478480350","pubTimestamp":1730127570,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":" ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","MHK":"莫霍克工业公司","BK4588":"碎股","LU0205193047.USD":"SCHRODER ISF US SMALL & MID-CAP EQUITY \"A\" (USD)  ACC","LU0205194284.USD":"SCHRODER ISF US SMALL & MID-CAP EQUITY \"A\" (USD) INC AV","ATER":"Aterian Inc.","BK4563":"昨日强势股","BK4095":"家庭装饰品","BK4191":"家用电器"},"translate_title":"这些分析师在第三季度业绩公布后下调了对莫霍克工业的预测","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ATER":1,"MHK":1},"content_text":"Mohawk Industries, Inc.  (NYSE:MHK) reported better-than-expected results for its third quarter, after the closing bell on Thursday.\nThe company posted quarterly earnings of $2.90 per share which beat the analyst consensus estimate of $2.89 per share. The company reported quarterly sales of $2.719 billion which beat the analyst consensus estimate of $2.700 billion.\nChairman and CEO Jeff Lorberbaum stated, “We delivered a solid performance in soft market conditions, which reflects the positive impact of our sales initiatives, productivity and restructuring actions as well as lower input costs, partially offset by pricing and mix pressure. Due to our increased earnings and management of working capital, we generated free cash flow of $204 million in the quarter, for a total of $443 million year to date. This year, we are investing approximately $450 million in capital projects focused on growth, reducing costs and asset maintenance.”\nMohawk shares gained 2.6% to trade at $134.23 on Monday.\nThese analysts made changes to their price targets on Mohawk following earnings announcement.\n\nTruist Securities analyst Keith Hughes maintained Mohawk Industries with a Buy and lowered the price target from $184 to $155.\nBarclays analyst Matthew Bouley maintained the stock with an Equal-Weight and cut the price target from $161 to $146.\n\nConsidering buying MHK stock? Here’s what analysts think: \n\nRead More:\n\n Top 3 Industrials Care Stocks That Plunge This Month","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}