Zacks: Analysts Anticipate Masco Co. (NYSE:MAS) Will Announce Quarterly Sales of $2.11 Billion

Equities research analysts predict that Masco Co. (NYSE:MAS) will post $2.11 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Masco’s earnings, with estimates ranging from $2.04 billion to $2.20 billion. Masco reported sales of $1.98 billion during the same quarter last year, which indicates a positive year over year growth rate of 6.6%. The company is expected to announce its next earnings report on Wednesday, October 27th.

According to Zacks, analysts expect that Masco will report full year sales of $8.26 billion for the current year, with estimates ranging from $8.23 billion to $8.33 billion. For the next fiscal year, analysts forecast that the firm will report sales of $8.62 billion, with estimates ranging from $8.57 billion to $8.68 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Masco.

Masco (NYSE:MAS) last announced its quarterly earnings data on Thursday, July 29th. The construction company reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.10. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.17 billion. Masco had a net margin of 6.61% and a return on equity of 379.98%.

A number of equities analysts have commented on MAS shares. Wells Fargo & Company initiated coverage on shares of Masco in a research report on Thursday, July 15th. They set an “overweight” rating and a $68.00 price objective for the company. The Goldman Sachs Group upgraded shares of Masco from a “neutral” rating to a “buy” rating and increased their price target for the company from $71.00 to $73.00 in a report on Wednesday, June 30th. Loop Capital cut their price target on shares of Masco from $67.00 to $63.00 and set a “hold” rating for the company in a report on Wednesday, July 7th. Barclays cut their price target on shares of Masco from $64.00 to $62.00 and set an “equal weight” rating for the company in a report on Thursday, July 15th. Finally, JPMorgan Chase & Co. downgraded shares of Masco from a “neutral” rating to an “underweight” rating and set a $61.00 target price for the company. in a report on Wednesday, July 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $66.79.

Masco stock traded down $0.07 during trading hours on Friday, reaching $56.74. 2,711 shares of the stock were exchanged, compared to its average volume of 2,008,888. The stock has a market cap of $14.02 billion, a P/E ratio of 28.55 and a beta of 1.30. The company has a debt-to-equity ratio of 49.17, a quick ratio of 1.26 and a current ratio of 1.83. Masco has a 52-week low of $51.53 and a 52-week high of $68.54. The firm’s 50 day moving average is $60.01 and its 200 day moving average is $60.31.

The business also recently announced a quarterly dividend, which was paid on Monday, August 30th. Investors of record on Friday, August 13th were given a $0.235 dividend. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $0.94 annualized dividend and a dividend yield of 1.66%. Masco’s dividend payout ratio is presently 30.13%.

In related news, CEO Keith J. Allman sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 14th. The shares were sold at an average price of $58.28, for a total value of $582,800.00. Following the sale, the chief executive officer now directly owns 334,701 shares of the company’s stock, valued at $19,506,374.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Cullen Frost Bankers Inc. raised its stake in shares of Masco by 267.9% during the second quarter. Cullen Frost Bankers Inc. now owns 493 shares of the construction company’s stock valued at $29,000 after purchasing an additional 359 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Masco by 85.1% in the first quarter. Rockefeller Capital Management L.P. now owns 548 shares of the construction company’s stock worth $32,000 after buying an additional 252 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Masco in the second quarter worth $39,000. Evermay Wealth Management LLC bought a new stake in shares of Masco in the second quarter worth $42,000. Finally, Capital Analysts LLC increased its stake in shares of Masco by 627.0% in the second quarter. Capital Analysts LLC now owns 727 shares of the construction company’s stock worth $43,000 after buying an additional 627 shares during the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Masco Company Profile

Masco Corp. engages in the design, manufacture, marketing and distribution of branded home improvement and building products. It operates through the following business segments: Plumbing Products and Decorative Architectural Products. The Plumbing Products segment includes faucets; plumbing fittings and valves; showerheads and hand showers; bathtubs and shower enclosures; toilets; spas, and exercise pools.

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Earnings History and Estimates for Masco (NYSE:MAS)

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