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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial lifted their target price on shares of Masco from $65.00 to $81.00 and gave the company a buy rating in a report on Friday, February 9th. Royal Bank of Canada lifted their target price on shares of Masco from $73.00 to $79.00 and gave the company an outperform rating in a report on Friday, February 9th. StockNews.com cut shares of Masco from a buy rating to a hold rating in a report on Wednesday, March 27th. Oppenheimer assumed coverage on shares of Masco in a research report on Friday, January 19th. They issued a market perform rating on the stock. Finally, Citigroup lifted their price objective on shares of Masco from $74.00 to $79.00 and gave the company a neutral rating in a research report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $69.62.

Masco Price Performance

Shares of NYSE MAS opened at $73.01 on Wednesday. The firm has a market capitalization of $16.10 billion, a P/E ratio of 18.21, a PEG ratio of 2.24 and a beta of 1.25. Masco has a one year low of $47.66 and a one year high of $78.94. The company’s fifty day moving average is $75.38 and its two-hundred day moving average is $66.72. 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 (NYSE:MAS) last issued 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. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the firm earned $0.87 EPS. The business’s revenue was down 2.7% on a year-over-year basis. Analysts forecast that Masco will post 4.11 EPS for the current fiscal year.

Masco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Thursday, February 22nd were given a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This is a positive change from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a dividend yield of 1.59%. Masco’s payout ratio is currently 28.93%.

Insider Buying and Selling

In related news, insider Jai Shah sold 42,552 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $76.36, for a total value of $3,249,270.72. Following the sale, the insider now directly owns 15,830 shares in the company, valued at approximately $1,208,778.80. The transaction was disclosed in a legal 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 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 in the company, valued at approximately $4,395,765.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 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 have sold 83,762 shares of company stock worth $6,337,597 in the last three months. 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.