Masco (NYSE:MAS) Releases FY24 Earnings Guidance

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised their target price on shares of Masco from $79.00 to $80.00 and gave the company an outperform rating in a research note on Thursday. Loop Capital cut their target price on shares of Masco from $79.00 to $76.00 and set a hold rating on the stock in a research note on Thursday. Evercore ISI dropped their price target on shares of Masco from $75.00 to $74.00 and set an in-line rating on the stock in a research note on Thursday. StockNews.com raised shares of Masco from a hold rating to a buy rating in a research note on Thursday. Finally, Truist Financial lifted their price target on shares of Masco from $65.00 to $81.00 and gave the stock a buy rating in a research note on Friday, February 9th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Masco currently has an average rating of Moderate Buy and a consensus price target of $71.07.

Masco Stock Performance

Masco stock traded down $0.01 during midday trading on Friday, reaching $69.86. 596,270 shares of the stock traded hands, compared to its average volume of 2,063,542. The company has a current ratio of 1.74, a quick ratio of 1.08 and a debt-to-equity ratio of 18.76. The firm has a fifty day moving average price of $75.23 and a two-hundred day moving average price of $66.76. The firm has a market cap of $15.41 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 2.17 and a beta of 1.25. Masco has a fifty-two week low of $47.66 and a fifty-two week high of $78.94.

Masco (NYSE:MAS) last posted its earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.94 billion. Masco had a net margin of 11.60% and a return on equity of 865.37%. Masco’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS. On average, equities research analysts forecast that Masco will post 4.11 earnings per share for the current year.

Masco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Thursday, February 22nd were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This is an increase from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 dividend on an annualized basis and a yield of 1.66%. Masco’s payout ratio is presently 28.43%.

Insider Activity at Masco

In related news, insider Jai Shah sold 42,552 shares of the business’s stock in a transaction that occurred 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 directly 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 is accessible through the SEC website. In related news, insider Jai Shah sold 42,552 shares of the business’s stock in a transaction that occurred 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 directly 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 is accessible through the SEC website. Also, VP Richard Allan Marshall sold 5,000 shares of the business’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 transaction 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 $806,328.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,762 shares of company stock valued at $6,337,597. Corporate 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.