Masco (NYSE:MAS) Announces Earnings Results, Beats Estimates By $0.06 EPS

Masco (NYSE:MAS) announced its earnings results on Wednesday. The construction company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06, RTT News reports. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business posted $0.87 EPS. The company’s quarterly revenue was down 2.7% on a year-over-year basis. Masco updated its FY24 guidance to $4.00-4.25 EPS and its FY 2024 guidance to 4.000-4.250 EPS.

Masco Stock Down 4.5 %

MAS stock opened at $69.74 on Thursday. Masco has a 12 month low of $47.66 and a 12 month high of $78.94. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.68 and a quick ratio of 1.08. The company has a market capitalization of $15.38 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 2.27 and a beta of 1.25. The firm’s fifty day simple moving average is $75.31 and its 200-day simple moving average is $66.74.

Masco Increases Dividend

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

Insider Buying and Selling at Masco

In other news, VP Kenneth G. Cole sold 36,210 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the sale, the vice president now owns 58,885 shares of the company’s stock, valued at approximately $4,395,765.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Masco news, insider Jai Shah sold 42,552 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 15,830 shares in the company, valued at approximately $1,208,778.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kenneth G. Cole sold 36,210 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the completion of the sale, the vice president now owns 58,885 shares of the company’s stock, valued at $4,395,765.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,762 shares of company stock worth $6,337,597. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.