Masco (NYSE:MAS) Issues FY24 Earnings Guidance

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

Analysts Set New Price Targets

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

Masco Price Performance

Shares of MAS opened at $69.85 on Friday. The company has a market cap of $15.38 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.17 and a beta of 1.25. Masco has a twelve month low of $47.66 and a twelve month high of $78.94. 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 moving average of $75.17 and a two-hundred day moving average of $66.88.

Masco (NYSE:MAS) last announced its earnings results 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. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.94 billion. Masco had a net margin of 11.60% and a return on equity of 865.37%. Masco’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.87 earnings per share. As a group, analysts predict that Masco will post 4.12 earnings per share for the current fiscal year.

Masco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.66%. This is an increase 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 28.43%.

Insider Buying and Selling at Masco

In other Masco 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 value of $2,703,076.50. Following the completion of the transaction, the vice president now owns 58,885 shares of the company’s stock, valued at $4,395,765.25. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Masco 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 value of $2,703,076.50. Following the completion of the transaction, the vice president now owns 58,885 shares of the company’s stock, valued at $4,395,765.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jai Shah sold 42,552 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following the completion of the transaction, the insider now directly owns 15,830 shares of the company’s stock, valued at approximately $1,208,778.80. The disclosure for this sale can be found here. Insiders sold a total of 83,762 shares of company stock worth $6,337,597 over the last three months. 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.