Masco (NYSE:MAS) Updates FY24 Earnings Guidance

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank of Canada raised their price target on shares of Masco from $73.00 to $79.00 and gave the company an outperform rating in a report on Friday, February 9th. Oppenheimer assumed coverage on shares of Masco in a report on Friday, January 19th. They issued a market perform rating for the company. StockNews.com downgraded shares of Masco from a buy rating to a hold rating in a report on Wednesday, March 27th. Truist Financial raised their price target on shares of Masco from $65.00 to $81.00 and gave the company a buy rating in a report on Friday, February 9th. Finally, Citigroup lifted their price objective on shares of Masco from $74.00 to $79.00 and gave the stock a neutral rating in a report on Friday, April 5th. Six equities 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, the stock currently has an average rating of Moderate Buy and an average target price of $69.62.

Masco Stock Performance

Masco stock opened at $73.01 on Wednesday. The firm has a fifty day simple moving average of $75.38 and a two-hundred day simple moving average of $66.72. Masco has a twelve month low of $47.66 and a twelve month high of $78.94. The company has a market capitalization of $16.10 billion, a PE ratio of 18.21, a P/E/G ratio of 2.24 and a beta of 1.25. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 30.05.

Masco (NYSE:MAS) last released its quarterly earnings data 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. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company earned $0.87 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Research analysts expect that Masco will post 4.11 EPS for the current year.

Masco Increases Dividend

The business also recently declared 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 represents a $1.16 annualized dividend and a dividend yield of 1.59%. This is a boost from Masco’s previous quarterly dividend of $0.29. Masco’s payout ratio is currently 28.93%.

Insider Activity at Masco

In related news, VP Kenneth G. Cole sold 36,210 shares of the business’s stock in a transaction dated 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 in the company, valued at $4,395,765.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Masco news, VP Kenneth G. Cole sold 36,210 shares of the company’s stock in a transaction dated 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 owns 58,885 shares in the company, valued at $4,395,765.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jai Shah sold 42,552 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,208,778.80. 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 90 days. 1.10% of the stock is 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.