Masco (NYSE:MAS) Issues 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 (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.

Analyst Ratings Changes

Several equities research analysts have weighed in on MAS shares. Citigroup upped 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. Royal Bank of Canada boosted their price objective on shares of Masco from $73.00 to $79.00 and gave the company an outperform rating in a research note on Friday, February 9th. Truist Financial raised their price target on Masco from $65.00 to $81.00 and gave the company a buy rating in a report on Friday, February 9th. StockNews.com downgraded Masco from a buy rating to a hold rating in a report on Wednesday, March 27th. Finally, Oppenheimer initiated coverage on Masco in a research note on Friday, January 19th. They set a market perform rating on the stock. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Masco currently has a consensus rating of Moderate Buy and a consensus price target of $69.62.

Masco Trading Down 4.5 %

MAS stock traded down $3.27 during midday trading on Wednesday, reaching $69.74. 4,613,734 shares of the company’s stock traded hands, compared to its average volume of 2,073,021. 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 company has a market capitalization of $15.38 billion, a P/E ratio of 17.39, a PEG ratio of 2.24 and a beta of 1.25. The business has a 50-day moving average price of $75.31 and a two-hundred day moving average price of $66.74. Masco has a fifty-two week low of $47.66 and a fifty-two week high of $78.94.

Masco (NYSE:MAS) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Masco had a return on equity of 3,111.50% and a net margin of 11.40%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share. Equities research analysts forecast that Masco will post 4.11 EPS for the current fiscal year.

Masco Increases Dividend

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

Insider Buying and Selling

In other Masco news, insider Jai Shah sold 42,552 shares of Masco 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 transaction, the insider now directly owns 15,830 shares in the company, valued at $1,208,778.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Masco news, insider Jai Shah sold 42,552 shares of the firm’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 value of $3,249,270.72. Following the sale, the insider now owns 15,830 shares in the company, valued at $1,208,778.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kenneth G. Cole sold 36,210 shares of Masco 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 sale, the vice president now directly owns 58,885 shares in the company, valued at approximately $4,395,765.25. The disclosure for this sale can be found here. Insiders have sold 83,762 shares of company stock worth $6,337,597 over the last ninety days. 1.10% of the stock is owned by 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.