Masco (NYSE:MAS) Updates FY24 Earnings Guidance

Masco (NYSE:MAS) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.00-4.25 for the period, compared to the consensus estimate of $4.13. Masco also updated its FY 2024 guidance to 4.000-4.250 EPS.

Masco Trading Down 4.5 %

MAS traded down $3.27 during trading on Wednesday, hitting $69.74. 4,610,222 shares of the stock were exchanged, compared to its average volume of 2,053,964. The firm has a 50 day simple moving average of $75.38 and a 200 day simple moving average of $66.72. The firm has a market cap of $15.38 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 2.24 and a beta of 1.25. Masco has a 1 year low of $47.66 and a 1 year high of $78.94. The company has a debt-to-equity ratio of 30.05, a quick ratio of 1.08 and a current ratio of 1.68.

Masco (NYSE:MAS) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.87 by $0.06. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.94 billion. Masco had a return on equity of 3,111.50% and a net margin of 11.40%. Masco’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS. As a group, equities analysts expect that Masco will post 4.11 EPS for the current year.

Masco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.29 per share. This is an increase from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a yield of 1.66%. The ex-dividend date was Wednesday, February 21st. Masco’s dividend payout ratio (DPR) is presently 28.93%.

Wall Street Analyst Weigh In

MAS has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price target on Masco from $73.00 to $79.00 and gave the company an outperform rating in a report on Friday, February 9th. StockNews.com downgraded Masco from a buy rating to a hold rating in a report on Wednesday, March 27th. Oppenheimer initiated coverage on Masco in a report on Friday, January 19th. They issued a market perform rating on the stock. Truist Financial lifted their price target on Masco from $65.00 to $81.00 and gave the company a buy rating in a report on Friday, February 9th. Finally, Citigroup lifted their price target on Masco from $74.00 to $79.00 and gave the company a neutral rating in a report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $69.62.

Insiders Place Their Bets

In other news, insider Jai Shah sold 42,552 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $76.36, for a total value of $3,249,270.72. Following the completion of the transaction, the insider now owns 15,830 shares of the company’s stock, valued at approximately $1,208,778.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Jai Shah sold 42,552 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $76.36, for a total value of $3,249,270.72. Following the completion of the transaction, the insider now owns 15,830 shares of the company’s stock, valued at approximately $1,208,778.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Richard Allan Marshall sold 5,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $77.05, for a total value of $385,250.00. Following the completion of the transaction, the vice president now directly owns 10,465 shares of the company’s stock, valued at approximately $806,328.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,762 shares of company stock valued at $6,337,597. 1.10% of the stock is owned by company insiders.

About Masco

Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.