Masco (NYSE:MAS) Updates FY 2024 Earnings Guidance

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

Masco Price Performance

Shares of NYSE:MAS traded down $0.02 during trading on Friday, reaching $69.85. The company had a trading volume of 1,921,762 shares, compared to its average volume of 1,858,241. The firm has a market capitalization of $15.38 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 2.17 and a beta of 1.25. 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 twelve month low of $47.66 and a twelve month high of $78.94. The firm’s fifty day moving average is $75.17 and its 200 day moving average is $66.88.

Masco (NYSE:MAS) last issued its quarterly 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 firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Masco had a return on equity of 865.37% and a net margin of 11.60%. Masco’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. On average, equities analysts forecast that Masco will post 4.12 EPS for the current year.

Masco Increases Dividend

The company also recently declared 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 an increase 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%. Masco’s dividend payout ratio (DPR) is 28.43%.

Analyst Ratings Changes

A number of research firms recently issued reports on MAS. Evercore ISI lowered their target price on shares of Masco from $75.00 to $74.00 and set an in-line rating on the stock in a research note on Thursday. StockNews.com raised Masco from a hold rating to a buy rating in a report on Thursday. Royal Bank of Canada increased their target price on shares of Masco from $79.00 to $80.00 and gave the stock an outperform rating in a research report on Thursday. Loop Capital decreased their target price on Masco from $79.00 to $76.00 and set a hold rating on the stock in a report on Thursday. Finally, Oppenheimer assumed coverage on Masco in a research report on Friday, January 19th. They issued a market perform rating on the stock. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $71.07.

Insider Buying and Selling

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 value of $2,703,076.50. Following the completion of the sale, the vice president now directly owns 58,885 shares in the company, valued at $4,395,765.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Jai Shah sold 42,552 shares of the 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 transaction, the insider now directly owns 15,830 shares in the company, valued at approximately $1,208,778.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $2,703,076.50. Following the sale, the vice president now directly owns 58,885 shares in the company, valued at approximately $4,395,765.25. The disclosure for this sale can be found here. In the last 90 days, insiders 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.