Masco (NYSE:MAS) Updates FY 2024 Earnings Guidance

Masco (NYSE:MAS) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 4.000-4.250 for the period, compared to the consensus earnings per share estimate of 4.130. The company issued revenue guidance of -. Masco also updated its FY24 guidance to $4.00-4.25 EPS.

Masco Stock Performance

Shares of MAS traded up $0.26 during mid-day trading on Friday, hitting $70.13. 824,803 shares of the company traded hands, compared to its average volume of 2,065,584. The company has a debt-to-equity ratio of 18.76, a quick ratio of 1.08 and a current ratio of 1.74. The stock has a 50-day moving average price of $75.23 and a two-hundred day moving average price of $66.76. Masco has a 1 year low of $47.66 and a 1 year high of $78.94. The stock has a market cap of $15.47 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 2.17 and a beta of 1.25.

Masco (NYSE:MAS) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.93 earnings per share for the quarter, beating 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 11.60% and a return on equity of 865.37%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 earnings per share. Equities analysts anticipate that Masco will post 4.11 earnings per share for the current year.

Masco Increases Dividend

The firm also recently announced 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. This represents a $1.16 annualized dividend and a yield of 1.65%. 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. Masco’s payout ratio is 28.43%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MAS. Royal Bank of Canada boosted their target price on shares of Masco from $79.00 to $80.00 and gave the company an outperform rating in a research report on Thursday. StockNews.com upgraded shares of Masco from a hold rating to a buy rating in a research report on Thursday. Oppenheimer began coverage on shares of Masco in a research report on Friday, January 19th. They set a market perform rating for the company. Loop Capital dropped their price target on shares of Masco from $79.00 to $76.00 and set a hold rating for the company in a research report on Thursday. Finally, Truist Financial increased their price objective 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 equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $71.07.

Insider Buying and Selling at Masco

In other Masco news, VP Richard Allan Marshall sold 5,000 shares of the firm’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 transaction, the vice president now owns 10,465 shares in the company, valued at approximately $806,328.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Masco news, VP Richard Allan Marshall sold 5,000 shares of the firm’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 transaction, the vice president now owns 10,465 shares in the company, valued at approximately $806,328.25. 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 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 owns 15,830 shares of the company’s stock, valued at approximately $1,208,778.80. The disclosure for this sale can be found here. Insiders sold 83,762 shares of company stock worth $6,337,597 in the last quarter. 1.10% of the stock is owned by corporate 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.