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

Masco Trading Down 2.9 %

Masco stock traded down $2.11 during mid-day trading on Wednesday, hitting $70.90. 550,406 shares of the stock were exchanged, compared to its average volume of 2,022,258. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 30.05. Masco has a 12 month low of $47.66 and a 12 month high of $78.94. The firm’s fifty day simple moving average is $75.38 and its two-hundred day simple moving average is $66.72. The stock has a market capitalization of $15.64 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 2.24 and a beta of 1.25.

Masco (NYSE:MAS) last released its quarterly earnings data 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 analyst estimates of $1.94 billion. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. Masco’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 EPS. Analysts forecast that Masco will post 4.11 EPS for the current year.

Masco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Thursday, February 22nd were given a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.16 annualized dividend and a yield of 1.64%. This is an increase from Masco’s previous quarterly dividend of $0.29. Masco’s dividend payout ratio (DPR) is presently 28.93%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. StockNews.com downgraded shares of Masco from a buy rating to a hold rating in a report on Wednesday, March 27th. Oppenheimer initiated coverage on shares of Masco in a report on Friday, January 19th. They set a market perform rating on the stock. Citigroup lifted their target price on Masco from $74.00 to $79.00 and gave the stock a neutral rating in a research note on Friday, April 5th. Truist Financial lifted their target price on Masco from $65.00 to $81.00 and gave the stock a buy rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada lifted their target price on Masco from $73.00 to $79.00 and gave the stock an outperform rating in a research note on Friday, February 9th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Masco has an average rating of Moderate Buy and a consensus price target of $69.62.

Insider Activity

In other news, insider Jai Shah sold 42,552 shares of the business’s stock in a transaction dated 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 owns 15,830 shares of the company’s stock, valued at $1,208,778.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Masco news, insider Jai Shah sold 42,552 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 15,830 shares of the company’s stock, valued at $1,208,778.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard Allan Marshall sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was 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 of the company’s stock, valued at approximately $806,328.25. The disclosure for this sale can be found here. Insiders have sold a total of 83,762 shares of company stock worth $6,337,597 over the last ninety days. 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.