Masco (NYSE:MAS) Releases FY24 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MAS. StockNews.com raised Masco from a hold rating to a buy rating in a research report on Thursday. Loop Capital cut their target price on Masco from $79.00 to $76.00 and set a hold rating on the stock in a research note on Thursday. Oppenheimer started coverage on Masco in a research note on Friday, January 19th. They issued a market perform rating on the stock. Truist Financial upped their price target on shares of Masco from $65.00 to $81.00 and gave the stock a buy rating in a report on Friday, February 9th. Finally, Citigroup increased their target price on Masco from $74.00 to $79.00 and gave the company a neutral rating in a research note on Friday, April 5th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $71.07.

Masco Stock Performance

NYSE MAS opened at $69.85 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.74 and a debt-to-equity ratio of 18.76. The company has a 50-day simple moving average of $75.17 and a two-hundred day simple moving average of $66.88. The firm has a market cap of $15.38 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 2.17 and a beta of 1.25. Masco has a 12-month low of $47.66 and a 12-month high of $78.94.

Masco (NYSE:MAS) last posted its earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.94 billion. Masco had a net margin of 11.60% and a return on equity of 865.37%. Masco’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 earnings per share. On average, equities analysts forecast that Masco will post 4.12 EPS for the current year.

Masco Increases Dividend

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

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 directly owns 10,465 shares in the company, valued at $806,328.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Masco news, VP Richard Allan Marshall sold 5,000 shares of the firm’s 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 completion of the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the vice president now directly owns 58,885 shares of the company’s stock, valued at approximately $4,395,765.25. The disclosure for this sale can be found here. Insiders sold 83,762 shares of company stock worth $6,337,597 over the last three months. 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.