Masco Corp (MAS) Expected to Announce Quarterly Sales of $2.02 Billion

Equities research analysts forecast that Masco Corp (NYSE:MAS) will report $2.02 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Masco’s earnings. The highest sales estimate is $2.08 billion and the lowest is $1.98 billion. Masco posted sales of $1.87 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8%. The firm is scheduled to announce its next earnings report on Thursday, February 14th.

On average, analysts expect that Masco will report full year sales of $8.34 billion for the current fiscal year, with estimates ranging from $8.30 billion to $8.40 billion. For the next financial year, analysts forecast that the company will report sales of $8.76 billion, with estimates ranging from $8.67 billion to $8.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Masco.

Masco (NYSE:MAS) last released its quarterly earnings results on Tuesday, October 30th. The construction company reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.05). Masco had a return on equity of 409.25% and a net margin of 7.65%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the prior year, the firm earned $0.50 EPS. Masco’s quarterly revenue was up 8.0% on a year-over-year basis.

A number of research firms recently commented on MAS. ValuEngine lowered shares of Masco from a “sell” rating to a “strong sell” rating in a report on Thursday, October 18th. Deutsche Bank decreased their price objective on shares of Masco from $48.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Jefferies Financial Group restated a “buy” rating and issued a $48.00 price objective on shares of Masco in a report on Wednesday, October 31st. Argus set a $43.00 price objective on shares of Masco and gave the stock a “buy” rating in a report on Wednesday, October 31st. Finally, Zacks Investment Research lowered shares of Masco from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $42.63.

NYSE:MAS traded up $0.41 during midday trading on Wednesday, reaching $31.69. 2,758,370 shares of the stock traded hands, compared to its average volume of 4,154,995. Masco has a 12 month low of $27.15 and a 12 month high of $46.44. The company has a quick ratio of 1.13, a current ratio of 1.71 and a debt-to-equity ratio of 14.35. The firm has a market capitalization of $9.56 billion, a P/E ratio of 16.34, a P/E/G ratio of 0.92 and a beta of 1.56.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 13th. Investors of record on Friday, October 12th were issued a $0.12 dividend. This is an increase from Masco’s previous quarterly dividend of $0.11. The ex-dividend date was Thursday, October 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.51%. Masco’s dividend payout ratio (DPR) is presently 24.74%.

In other Masco news, Director Richard A. Manoogian sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $31.30, for a total transaction of $1,565,000.00. Following the sale, the director now owns 575,961 shares in the company, valued at approximately $18,027,579.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard A. O’reagan sold 12,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $31.48, for a total transaction of $406,092.00. Following the sale, the insider now owns 61,443 shares in the company, valued at approximately $1,934,225.64. The disclosure for this sale can be found here. In the last three months, insiders sold 212,900 shares of company stock worth $6,631,092. 1.20% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors purchased a new position in shares of Masco in the third quarter valued at $337,123,000. Iridian Asset Management LLC CT boosted its stake in Masco by 58.1% during the third quarter. Iridian Asset Management LLC CT now owns 4,901,419 shares of the construction company’s stock worth $179,392,000 after buying an additional 1,801,055 shares during the period. Voya Investment Management LLC boosted its stake in Masco by 15.4% during the second quarter. Voya Investment Management LLC now owns 3,765,150 shares of the construction company’s stock worth $140,891,000 after buying an additional 501,978 shares during the period. Point72 Asset Management L.P. boosted its stake in Masco by 147.3% during the second quarter. Point72 Asset Management L.P. now owns 2,312,287 shares of the construction company’s stock worth $86,526,000 after buying an additional 1,377,136 shares during the period. Finally, Pictet Asset Management Ltd. boosted its stake in Masco by 8.4% during the third quarter. Pictet Asset Management Ltd. now owns 2,266,037 shares of the construction company’s stock worth $82,937,000 after buying an additional 176,227 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

About Masco

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, Decorative Architectural Products, Cabinetry Products, and Windows & Other Specialty 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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