Masco (NYSE:MAS) Releases FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. StockNews.com lowered Masco from a buy rating to a hold rating in a research note on Wednesday, March 27th. Oppenheimer started coverage on shares of Masco in a research note on Friday, January 19th. They issued a market perform rating for the company. Citigroup raised their price target on shares of Masco from $74.00 to $79.00 and gave the stock a neutral rating in a report on Friday, April 5th. Royal Bank of Canada upped their price objective on Masco from $73.00 to $79.00 and gave the company an outperform rating in a report on Friday, February 9th. Finally, Truist Financial raised their target price on Masco from $65.00 to $81.00 and gave the stock a buy rating in a research note on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Masco currently has a consensus rating of Moderate Buy and an average target price of $69.93.

Masco Stock Down 0.6 %

Shares of NYSE:MAS traded down $0.42 during trading on Thursday, hitting $69.32. The company’s stock had a trading volume of 653,091 shares, compared to its average volume of 2,054,134. Masco has a fifty-two week low of $47.66 and a fifty-two week high of $78.94. The business has a 50 day moving average price of $75.31 and a two-hundred day moving average price of $66.74. The company has a debt-to-equity ratio of 30.05, a quick ratio of 1.08 and a current ratio of 1.68. The company has a market capitalization of $15.29 billion, a PE ratio of 16.97, a P/E/G ratio of 2.27 and a beta of 1.25.

Masco (NYSE:MAS) last released its earnings results 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 firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Masco had a return on equity of 3,111.50% and a net margin of 11.40%. Masco’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. As a group, research analysts expect that Masco will post 4.11 EPS for the current fiscal year.

Masco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Thursday, February 22nd were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.67%. This is a positive change from Masco’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, February 21st. Masco’s dividend payout ratio (DPR) is presently 28.93%.

Insider Buying and Selling

In other news, VP Kenneth G. Cole sold 36,210 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the completion of the transaction, the vice president now directly owns 58,885 shares of the company’s stock, valued at approximately $4,395,765.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Kenneth G. Cole sold 36,210 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $74.65, for a total value of $2,703,076.50. Following the transaction, the vice president now directly owns 58,885 shares of the company’s stock, valued at approximately $4,395,765.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Richard Allan Marshall sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $77.05, for a total value of $385,250.00. Following the transaction, the vice president now directly owns 10,465 shares in the company, valued at approximately $806,328.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,762 shares of company stock worth $6,337,597. Corporate insiders own 1.10% of the company’s stock.

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.