Masco (NYSE:MAS) Releases FY 2024 Earnings Guidance

Masco (NYSE:MAS) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 4.000-4.250 for the period, compared to the consensus estimate of 4.130. The company issued revenue guidance of -. Masco also updated its FY24 guidance to $4.00-4.25 EPS.

Masco Price Performance

Shares of NYSE MAS traded down $2.11 during mid-day trading on Wednesday, reaching $70.90. The company’s stock had a trading volume of 550,406 shares, compared to its average volume of 2,022,258. The firm has a market capitalization of $15.64 billion, a PE ratio of 18.21, a P/E/G ratio of 2.24 and a beta of 1.25. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.68 and a quick ratio of 1.08. The stock has a fifty day moving average of $75.38 and a two-hundred day moving average of $66.72. Masco has a 52 week low of $47.66 and a 52 week high of $78.94.

Masco (NYSE:MAS) last posted its earnings results on Wednesday, April 24th. The construction company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. Masco had a return on equity of 3,111.50% and a net margin of 11.40%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business earned $0.87 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Masco will post 4.11 EPS for the current fiscal year.

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 paid a $0.29 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $1.16 annualized dividend and a yield of 1.64%. This is a boost from Masco’s previous quarterly dividend of $0.29. Masco’s dividend payout ratio is 28.93%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, VP Richard Allan Marshall sold 5,000 shares of Masco stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 10,465 shares in the company, valued at approximately $806,328.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Kenneth G. Cole sold 36,210 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 58,885 shares of the company’s stock, valued at approximately $4,395,765.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Richard Allan Marshall sold 5,000 shares of Masco 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 completion of the sale, the vice president now directly owns 10,465 shares of the company’s stock, valued at $806,328.25. The disclosure for this sale can be found here. In the last three months, insiders sold 83,762 shares of company stock worth $6,337,597. Company 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.