Masco (NYSE:MAS) Updates FY 2024 Earnings Guidance

Masco (NYSE:MAS) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 4.000-4.250 for the period, compared to the consensus earnings per share estimate of 4.130. The company issued revenue guidance of -. Masco also updated its FY24 guidance to $4.00-4.25 EPS.

Wall Street Analyst Weigh In

A number of research firms have commented on MAS. Oppenheimer began coverage on Masco in a report on Friday, January 19th. They set a market perform rating on the stock. Evercore ISI decreased their price target on Masco from $75.00 to $74.00 and set an in-line rating on the stock in a report on Thursday. Citigroup raised 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. Truist Financial raised 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, Royal Bank of Canada raised their price objective on Masco from $73.00 to $79.00 and gave the company an outperform rating in a research report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $69.93.

Masco Trading Up 0.3 %

MAS traded up $0.24 on Thursday, hitting $69.98. The company had a trading volume of 1,210,027 shares, compared to its average volume of 2,061,098. The company has a market cap of $15.44 billion, a PE ratio of 17.32, a PEG ratio of 2.27 and a beta of 1.25. Masco has a 12-month low of $47.66 and a 12-month high of $78.94. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 30.05. The business’s fifty day simple moving average is $75.31 and its 200 day simple moving average is $66.74.

Masco (NYSE:MAS) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.06. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.94 billion. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.87 earnings per share. Equities research 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 paid a $0.29 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $1.16 annualized dividend and a yield of 1.66%. This is an increase from Masco’s previous quarterly dividend of $0.29. Masco’s dividend payout ratio (DPR) is presently 28.93%.

Insiders Place Their Bets

In other Masco news, VP Richard Allan Marshall sold 5,000 shares of the firm’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 sale, the vice president now owns 10,465 shares of the company’s stock, valued at $806,328.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Kenneth G. Cole sold 36,210 shares of Masco 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 completion of the sale, the vice president now owns 58,885 shares of the company’s stock, valued at $4,395,765.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard Allan Marshall sold 5,000 shares of Masco stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $77.05, for a total transaction of $385,250.00. Following the sale, 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. Insiders sold a total of 83,762 shares of company stock valued at $6,337,597 over the last 90 days. Insiders own 1.10% of the company’s stock.

Masco Company Profile

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.