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

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

Masco Stock Up 1.4 %

Shares of MAS stock opened at $73.01 on Wednesday. The company has a market capitalization of $16.10 billion, a price-to-earnings 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 price is $75.38 and its 200-day moving average price is $66.72. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.68 and a quick ratio of 1.08.

Masco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Wednesday, February 21st. This is a boost from Masco’s previous quarterly dividend of $0.29. Masco’s dividend payout ratio (DPR) is currently 28.93%.

Insider Activity

In other news, VP Richard Allan Marshall sold 5,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were 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 approximately $806,328.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Kenneth G. Cole sold 36,210 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the sale, the vice president now directly owns 58,885 shares in the company, valued at approximately $4,395,765.25. The sale was disclosed in a legal 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 firm’s stock in a transaction on Friday, March 1st. The shares were 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 in the company, valued at $806,328.25. 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. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MAS. Truist Financial increased their price target on shares of Masco from $65.00 to $81.00 and gave the company a “buy” rating in a report on Friday, February 9th. Citigroup raised their target price on shares of Masco from $74.00 to $79.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. StockNews.com cut shares of Masco from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Royal Bank of Canada raised their target price on shares of Masco from $73.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Finally, Oppenheimer began coverage on shares of Masco in a report on Friday, January 19th. They issued a “market perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company 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.