Masco (NYSE:MAS) Releases FY 2024 Earnings Guidance

Masco (NYSE:MAS) updated its FY 2024 earnings guidance on Wednesday. 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.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MAS. Citigroup lifted their price target on Masco from $74.00 to $79.00 and gave the stock a neutral rating in a report on Friday, April 5th. Truist Financial boosted their target price on Masco from $65.00 to $81.00 and gave the company a buy rating in a report on Friday, February 9th. Loop Capital reduced their target price on Masco from $79.00 to $76.00 and set a hold rating for the company in a report on Thursday. Evercore ISI reduced their target price on Masco from $75.00 to $74.00 and set an in-line rating for the company in a report on Thursday. Finally, Royal Bank of Canada boosted their target price on Masco from $79.00 to $80.00 and gave the company an outperform rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Masco currently has a consensus rating of Moderate Buy and an average target price of $71.07.

Masco Stock Performance

MAS traded up $0.26 on Friday, hitting $70.13. 824,803 shares of the company traded hands, compared to its average volume of 2,065,584. 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 $75.23 and a 200-day moving average of $66.76. Masco has a 12-month low of $47.66 and a 12-month high of $78.94. The stock has a market capitalization of $15.47 billion, a PE ratio of 17.13, a PEG ratio of 2.17 and a beta of 1.25.

Masco (NYSE:MAS) last released its earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. Sell-side analysts anticipate that Masco will post 4.11 earnings per share for the current year.

Masco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.29 per share. This is a boost from Masco’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, February 21st. This represents a $1.16 annualized dividend and a yield of 1.65%. Masco’s payout ratio is presently 28.43%.

Insiders Place Their Bets

In related news, 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 sale, the vice president now owns 10,465 shares in the company, valued at approximately $806,328.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, 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 sale, the vice president now owns 10,465 shares in the company, valued at approximately $806,328.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Kenneth G. Cole sold 36,210 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now 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 have sold 83,762 shares of company stock worth $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.