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.

Masco Stock Performance

Shares of MAS traded down $0.42 during midday trading on Thursday, hitting $69.32. 653,091 shares of the stock traded hands, compared to its average volume of 2,054,134. The company has a debt-to-equity ratio of 30.05, a quick ratio of 1.08 and a current ratio of 1.68. Masco has a 1-year low of $47.66 and a 1-year high of $78.94. The business’s 50 day moving average price is $75.31 and its two-hundred day moving average price is $66.74. The firm has a market capitalization of $15.29 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 2.27 and a beta of 1.25.

Masco (NYSE:MAS) last posted its earnings results on Wednesday, April 24th. The construction company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.87 by $0.06. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations 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 firm earned $0.87 EPS. Equities research analysts predict that Masco will post 4.11 EPS for the current fiscal 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 paid a dividend of $0.29 per share. The ex-dividend date was Wednesday, February 21st. This represents a $1.16 annualized dividend and a yield of 1.67%. This is an increase from Masco’s previous quarterly dividend of $0.29. Masco’s payout ratio is presently 28.93%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MAS. Oppenheimer started coverage on shares of Masco in a research note on Friday, January 19th. They set a market perform rating on the stock. StockNews.com lowered shares of Masco from a buy rating to a hold rating in a research note on Wednesday, March 27th. Evercore ISI decreased their price objective on shares of Masco from $75.00 to $74.00 and set an in-line rating for the company in a report on Thursday. Citigroup boosted their target price on Masco from $74.00 to $79.00 and gave the stock a neutral rating in a report on Friday, April 5th. Finally, Truist Financial increased their price target on Masco from $65.00 to $81.00 and gave the company a buy rating in a research note on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $69.93.

Insider Buying and Selling at Masco

In related news, VP Kenneth G. Cole sold 36,210 shares of Masco stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Kenneth G. Cole sold 36,210 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the transaction, the vice president now owns 58,885 shares of the company’s stock, valued at $4,395,765.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jai Shah sold 42,552 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following the completion of the sale, the insider now owns 15,830 shares of the company’s stock, valued at $1,208,778.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,762 shares of company stock worth $6,337,597. 1.10% of the stock is currently owned by company 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.