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 earnings per share (EPS) guidance of 4.000-4.250 for the period, compared to the consensus estimate of 4.130. The company issued revenue guidance of -. Masco also updated its FY24 guidance to $4.00-4.25 EPS.

Analyst Ratings Changes

A number of analysts recently issued reports on MAS shares. Truist Financial raised their price target on Masco from $65.00 to $81.00 and gave the stock a buy rating in a research report on Friday, February 9th. Oppenheimer assumed coverage on Masco in a report on Friday, January 19th. They issued a market perform rating for the company. Evercore ISI dropped 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 note on Thursday. Loop Capital reduced their target price on shares of Masco from $79.00 to $76.00 and set a hold rating for the company in a report on Thursday. Finally, Royal Bank of Canada upped their price target on Masco from $79.00 to $80.00 and gave the stock an outperform rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $71.07.

Masco Price Performance

Shares of NYSE:MAS traded down $0.02 during trading on Friday, hitting $69.85. 1,921,762 shares of the stock were exchanged, compared to its average volume of 1,858,241. The company has a fifty day moving average price of $75.17 and a two-hundred day moving average price of $66.88. The company has a market cap of $15.38 billion, a PE ratio of 17.12, a P/E/G 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. The company has a current ratio of 1.74, a quick ratio of 1.08 and a debt-to-equity ratio of 18.76.

Masco (NYSE:MAS) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.93 EPS 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 company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business earned $0.87 EPS. The firm’s revenue was down 2.7% on a year-over-year basis. On average, analysts forecast that Masco will post 4.12 EPS 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 was Wednesday, February 21st. This is an increase 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 dividend payout ratio (DPR) is currently 28.43%.

Insider Buying and Selling at Masco

In other news, VP Kenneth G. Cole sold 36,210 shares of the business’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 transaction, the vice president now owns 58,885 shares of the company’s stock, valued at $4,395,765.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Richard Allan Marshall sold 5,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $77.05, for a total transaction of $385,250.00. Following the completion of the sale, the vice president now directly owns 10,465 shares of the company’s stock, valued at approximately $806,328.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kenneth G. Cole sold 36,210 shares of the business’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 sale, the vice president now directly owns 58,885 shares in the company, valued at $4,395,765.25. The disclosure for this sale can be found here. Insiders have sold 83,762 shares of company stock worth $6,337,597 in the last ninety days. 1.10% of the stock is owned by insiders.

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.