Masco (NYSE:MAS) Releases FY24 Earnings Guidance

Masco (NYSE:MAS) updated its FY24 earnings guidance on Wednesday. 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.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Truist Financial lifted 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. Royal Bank of Canada lifted their price target on Masco from $79.00 to $80.00 and gave the company an outperform rating in a research report on Thursday. StockNews.com upgraded Masco from a hold rating to a buy rating in a research report on Thursday. Loop Capital dropped their price target on Masco from $79.00 to $76.00 and set a hold rating for the company in a research report on Thursday. Finally, Evercore ISI dropped their price target on Masco from $75.00 to $74.00 and set an in-line rating for the company in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $71.07.

Masco Price Performance

NYSE:MAS traded down $0.01 during mid-day trading on Friday, reaching $69.86. The stock had a trading volume of 596,270 shares, compared to its average volume of 2,063,542. The company has a debt-to-equity ratio of 18.76, a quick ratio of 1.08 and a current ratio of 1.74. Masco has a one year low of $47.66 and a one year high of $78.94. The firm has a 50 day moving average price of $75.23 and a two-hundred day moving average price of $66.76. The stock has a market capitalization 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.

Masco (NYSE:MAS) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.06. Masco had a return on equity of 865.37% and a net margin of 11.60%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $0.87 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. As a group, analysts expect that Masco will post 4.11 earnings per share for the current year.

Masco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This is a boost from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a dividend yield of 1.66%. Masco’s payout ratio is 28.43%.

Insider Activity

In related news, VP Richard Allan Marshall sold 5,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $77.05, for a total value of $385,250.00. Following the sale, the vice president now directly 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 is available through the SEC website. In related news, VP Richard Allan Marshall sold 5,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $77.05, for a total value of $385,250.00. Following the sale, the vice president now directly 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 is available through the SEC website. Also, insider Jai Shah sold 42,552 shares of the company’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 completion of the sale, the insider now directly owns 15,830 shares in the company, valued at $1,208,778.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,762 shares of company stock valued at $6,337,597. Company 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.