Masco (NYSE:MAS) Releases 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 Up 0.3 %

NYSE MAS traded up $0.24 on Thursday, hitting $69.98. 1,210,027 shares of the company were exchanged, compared to its average volume of 2,061,098. The company’s 50 day moving average price is $75.31 and its 200-day moving average price is $66.74. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.68 and a quick ratio of 1.08. The firm has a market capitalization of $15.44 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 2.27 and a beta of 1.25. Masco has a twelve month low of $47.66 and a twelve month high of $78.94.

Masco (NYSE:MAS) last posted its quarterly earnings data 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. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.94 billion. Masco had a return on equity of 3,111.50% and a net margin of 11.40%. The business’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 company earned $0.87 EPS. Analysts predict that Masco will post 4.11 earnings per share for the current fiscal 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 issued a $0.29 dividend. This is an increase from Masco’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.66%. Masco’s dividend payout ratio is currently 28.93%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MAS. Citigroup boosted their price target on Masco from $74.00 to $79.00 and gave the company a neutral rating in a research note on Friday, April 5th. Royal Bank of Canada boosted their price target on Masco from $73.00 to $79.00 and gave the company an outperform rating in a research note on Friday, February 9th. Evercore ISI decreased their target price on Masco from $75.00 to $74.00 and set an in-line rating for the company in a research report on Thursday. Truist Financial upped their target price on Masco from $65.00 to $81.00 and gave the stock a buy rating in a research report on Friday, February 9th. Finally, StockNews.com cut Masco from a buy rating to a hold rating in a research report on Wednesday, March 27th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $69.93.

Insider Activity at Masco

In related news, 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 completion of the transaction, the vice president now directly owns 58,885 shares in the company, valued at $4,395,765.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $385,250.00. Following the completion of the sale, the vice president now directly owns 10,465 shares in the company, valued at $806,328.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Kenneth G. Cole sold 36,210 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were 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 of the company’s stock, valued at $4,395,765.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,762 shares of company stock worth $6,337,597. 1.10% of the stock is owned by corporate 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.