Masco (NYSE:MAS) Announces Earnings Results, Beats Expectations By $0.06 EPS

Masco (NYSE:MAS) released its quarterly earnings results on Wednesday. The construction company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06, RTT News reports. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Masco had a return on equity of 3,111.50% and a net margin of 11.40%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 earnings per share. Masco updated its FY24 guidance to $4.00-4.25 EPS and its FY 2024 guidance to 4.000-4.250 EPS.

Masco Trading Down 4.5 %

Shares of MAS stock opened at $69.74 on Thursday. Masco has a 1 year low of $47.66 and a 1 year high of $78.94. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 30.05. The firm has a market capitalization of $15.38 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 2.27 and a beta of 1.25. The firm’s fifty day simple moving average is $75.31 and its 200 day simple moving average is $66.74.

Masco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Thursday, February 22nd were issued a dividend of $0.29 per share. This is an increase from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Wednesday, February 21st. Masco’s dividend payout ratio is currently 28.93%.

Insider Buying and Selling at Masco

In other news, VP Richard Allan Marshall sold 5,000 shares of the business’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 sale, the vice president now directly owns 10,465 shares in the company, valued at $806,328.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Kenneth G. Cole sold 36,210 shares of the business’s stock in a transaction on 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 approximately $4,395,765.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Allan Marshall sold 5,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $77.05, for a total transaction of $385,250.00. Following the sale, the vice president now owns 10,465 shares of the company’s stock, valued at approximately $806,328.25. The disclosure for this sale can be found here. Insiders sold a total of 83,762 shares of company stock valued at $6,337,597 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.