Masco (NYSE:MAS) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Masco (NYSE:MAS) posted its earnings results on Wednesday. The construction company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.87 by $0.06, RTT News reports. Masco had a return on equity of 865.37% and a net margin of 11.60%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the business earned $0.87 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. Masco updated its FY24 guidance to $4.00-4.25 EPS and its FY 2024 guidance to 4.000-4.250 EPS.

Masco Trading Up 0.2 %

MAS opened at $69.87 on Friday. Masco has a one year low of $47.66 and a one year high of $78.94. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 2.17 and a beta of 1.25. The business has a 50 day simple moving average of $75.23 and a two-hundred day simple moving average of $66.76. The company has a debt-to-equity ratio of 18.76, a current ratio of 1.74 and a quick ratio of 1.08.

Masco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.29 per share. This is a positive change 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 yield of 1.66%. Masco’s dividend payout ratio is presently 28.43%.

Analyst Ratings Changes

MAS has been the subject of several recent analyst reports. Royal Bank of Canada boosted their target price on Masco from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday. Evercore ISI cut their price objective on Masco from $75.00 to $74.00 and set an “in-line” rating for the company in a report on Thursday. StockNews.com upgraded Masco from a “hold” rating to a “buy” rating in a report on Thursday. Oppenheimer assumed coverage on Masco in a report on Friday, January 19th. They issued a “market perform” rating for the company. Finally, Loop Capital cut their price objective on Masco from $79.00 to $76.00 and set a “hold” rating for the company in a report on Thursday. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Masco presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

Insider Transactions at Masco

In other news, VP Kenneth G. Cole sold 36,210 shares of the stock in a transaction that occurred 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 owns 58,885 shares of the company’s stock, valued at approximately $4,395,765.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Kenneth G. Cole sold 36,210 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 58,885 shares in the company, valued at approximately $4,395,765.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jai Shah sold 42,552 shares of the company’s 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 sale, 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. In the last quarter, insiders sold 83,762 shares of company stock valued at $6,337,597. Corporate insiders own 1.10% of the company’s stock.

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.