Masco (NYSE:MAS) Issues Quarterly Earnings Results

Masco (NYSE:MAS) issued its earnings results on Wednesday. The construction company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.06, RTT News reports. Masco had a net margin of 11.60% and a return on equity of 865.37%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business posted $0.87 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Masco updated its FY24 guidance to $4.00-4.25 EPS and its FY 2024 guidance to 4.000-4.250 EPS.

Masco Stock Performance

NYSE:MAS opened at $69.87 on Friday. Masco has a fifty-two week low of $47.66 and a fifty-two week high of $78.94. The firm’s 50 day moving average is $75.23 and its two-hundred day moving average is $66.76. The company has a market cap of $15.41 billion, a P/E ratio of 17.13, a P/E/G ratio of 2.17 and a beta of 1.25. The company has a quick ratio of 1.08, a current ratio of 1.74 and a debt-to-equity ratio of 18.76.

Masco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.29 per share. The ex-dividend date was Wednesday, February 21st. This represents a $1.16 dividend on an annualized basis 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 currently 28.43%.

Wall Street Analysts Forecast Growth

MAS has been the topic of several recent research reports. Royal Bank of Canada upped their price target on shares of Masco from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup upped 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. Evercore ISI reduced their price target on shares of Masco from $75.00 to $74.00 and set an “in-line” rating on the stock in a report on Thursday. Oppenheimer initiated coverage on shares of Masco in a report on Friday, January 19th. They issued a “market perform” rating on the stock. Finally, Loop Capital reduced their price target on shares of Masco from $79.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Masco currently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Insider Transactions at Masco

In other news, insider Jai Shah sold 42,552 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $76.36, for a total value of $3,249,270.72. Following the completion of the sale, the insider now owns 15,830 shares of the company’s stock, valued at $1,208,778.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Kenneth G. Cole sold 36,210 shares of the firm’s stock in a transaction 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 directly owns 58,885 shares of the company’s stock, valued at approximately $4,395,765.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jai Shah sold 42,552 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following the sale, the insider now directly owns 15,830 shares of the company’s stock, valued at $1,208,778.80. The disclosure for this sale can be found here. Insiders sold 83,762 shares of company stock valued at $6,337,597 over the last 90 days. Corporate 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.