Masco (NYSE:MAS) Releases Earnings Results, Hits Expectations

Masco (NYSE:MAS) released its quarterly earnings results on Tuesday. The construction company reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08, Briefing.com reports. Masco had a net margin of 11.59% and a return on equity of 602.39%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Masco updated its FY 2024 guidance to 4.050-4.150 EPS and its FY24 guidance to $4.05-4.15 EPS.

Masco Trading Down 1.2 %

MAS opened at $80.34 on Thursday. The stock has a market capitalization of $17.69 billion, a PE ratio of 19.69, a P/E/G ratio of 2.78 and a beta of 1.24. Masco has a one year low of $51.72 and a one year high of $86.70. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76. The business’s 50 day moving average price is $81.56 and its 200 day moving average price is $74.45.

Masco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.44%. Masco’s dividend payout ratio is currently 28.43%.

Insiders Place Their Bets

In related news, VP Kenneth G. Cole sold 37,814 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the completion of the sale, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on MAS. Citigroup reduced their target price on Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Robert W. Baird reduced their price objective on Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a research note on Wednesday. UBS Group raised their price objective on Masco from $89.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company upped their target price on shares of Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Barclays raised their price target on shares of Masco from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.85.

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.