Masco (NYSE:MAS) Issues Quarterly Earnings Results

Masco (NYSE:MAS) released its quarterly earnings data on Wednesday. The construction company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.06, RTT News reports. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.94 billion. Masco had a return on equity of 3,111.50% and a net margin of 11.40%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 EPS. Masco updated its FY24 guidance to $4.00-4.25 EPS and its FY 2024 guidance to 4.000-4.250 EPS.

Masco Price Performance

Shares of NYSE MAS opened at $73.01 on Wednesday. Masco has a twelve month low of $47.66 and a twelve month high of $78.94. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 30.05. The company has a market capitalization of $16.10 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 2.24 and a beta of 1.25. The business has a 50 day simple moving average of $75.38 and a 200-day simple moving average of $66.72.

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 issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.59%. 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 payout ratio is 28.93%.

Insider Activity

In related news, 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 transaction 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 document filed with the SEC, which is available through this link. In related news, 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 transaction 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 document filed with the SEC, which is available through this link. Also, VP Kenneth G. Cole sold 36,210 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total value of $2,703,076.50. Following the transaction, the vice president now owns 58,885 shares of the company’s stock, valued at $4,395,765.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,762 shares of company stock worth $6,337,597. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. StockNews.com lowered Masco from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Royal Bank of Canada boosted their price target on Masco from $73.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Truist Financial boosted 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. Citigroup boosted their price target on Masco from $74.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, Oppenheimer initiated coverage on Masco in a research report on Friday, January 19th. They set a “market perform” rating on the stock. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.62.

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.