Masco (NYSE:MAS) Issues FY24 Earnings Guidance

Masco (NYSE:MAS) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.00-4.25 for the period, compared to the consensus earnings per share estimate of $4.13. Masco also updated its FY 2024 guidance to 4.000-4.250 EPS.

Masco Stock Performance

MAS traded down $3.27 on Wednesday, hitting $69.74. 4,610,222 shares of the company’s stock were exchanged, compared to its average volume of 2,053,964. The firm has a market cap of $15.38 billion, a PE ratio of 17.12, a P/E/G ratio of 2.24 and a beta of 1.25. Masco has a twelve month low of $47.66 and a twelve month high of $78.94. The stock has a fifty day moving average of $75.38 and a two-hundred day moving average of $66.72. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 30.05.

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, topping the consensus estimate of $0.87 by $0.06. The firm had revenue of $1.93 billion for 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 quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share. On average, research analysts anticipate that Masco will post 4.11 earnings per share for the current fiscal year.

Masco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.16 annualized dividend and a dividend yield of 1.66%. This is a positive change from Masco’s previous quarterly dividend of $0.29. Masco’s dividend payout ratio (DPR) is presently 28.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial raised their price target on shares of Masco from $65.00 to $81.00 and gave the company a buy rating in a research note on Friday, February 9th. Citigroup increased their price objective on shares of Masco from $74.00 to $79.00 and gave the company a neutral rating in a report on Friday, April 5th. Oppenheimer initiated coverage on shares of Masco in a report on Friday, January 19th. They issued a market perform rating for the company. StockNews.com cut shares of Masco from a buy rating to a hold rating in a report on Wednesday, March 27th. Finally, Royal Bank of Canada increased their price objective on shares of Masco from $73.00 to $79.00 and gave the company an outperform rating in a report on Friday, February 9th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Masco presently has a consensus rating of Moderate Buy and a consensus price target of $69.62.

Insiders Place Their Bets

In other Masco news, VP Richard Allan Marshall sold 5,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were 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 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 can be accessed through this link. In other Masco news, VP Richard Allan Marshall sold 5,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were 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 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 can be accessed through this link. Also, insider Jai Shah sold 42,552 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following the transaction, the insider now owns 15,830 shares in the company, 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 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

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.