Masco Corporation (MAS) Stock Rating Upgraded by Zacks Investment Research
According to Zacks, “Though Masco’s adjusted earnings in the fourth quarter missed the Zacks Consensus Estimate by 2.9%, it increased 14% on a year over year basis. Net sales surpassed the Zacks Consensus Estimate by 0.6% and grew 3% year over year. Increasing demand for repair and remodeling and new home construction products is driving sales. Adjusted gross margin improved 150 basis points. Masco has several major products lined up for release in the first half of 2017, which can be expected to boost growth. However, Cabinets and Related Products revenues declined 8% year over year due to the exit of the company from lower margin business in the builder channel. Over the past three months. Meanwhile, unfavorable foreign currency translation which hurt sales in 2016, is expected to hurt 2017 sales by approximately $100 million.”
Other equities analysts have also recently issued reports about the company. Barclays PLC lowered their price target on Masco Corporation to $36.00 in a report on Friday, February 10th. Goldman Sachs Group, Inc. (The) cut Masco Corporation from a conviction-buy rating to a buy rating in a report on Monday, December 12th. Evercore ISI started coverage on Masco Corporation in a report on Monday, November 14th. They set a buy rating and a $40.00 price target on the stock. Jefferies Group LLC lowered their price target on Masco Corporation from $42.00 to $39.00 and set a buy rating on the stock in a report on Wednesday, October 26th. Finally, MKM Partners raised Masco Corporation from a neutral rating to a buy rating and lowered their price target for the company from $40.00 to $36.00 in a report on Wednesday, October 26th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $37.57.
Masco Corporation (NYSE:MAS) opened at 33.67 on Monday. The stock has a market capitalization of $10.71 billion, a PE ratio of 22.90 and a beta of 1.51. The stock has a 50 day moving average price of $32.80 and a 200 day moving average price of $33.19. Masco Corporation has a 12 month low of $26.83 and a 12 month high of $37.38.
Masco Corporation (NYSE:MAS) last issued its earnings results on Thursday, February 9th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by $0.01. Masco Corporation had a net margin of 6.67% and a return on equity of 1,293.51%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the business posted $0.29 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that Masco Corporation will post $1.87 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, February 13th. Stockholders of record on Friday, January 13th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, January 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.19%. Masco Corporation’s payout ratio is 27.21%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. IFM Investors Pty Ltd bought a new position in Masco Corporation during the fourth quarter valued at approximately $244,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Masco Corporation during the fourth quarter valued at approximately $4,924,000. Nokota Management LP bought a new position in Masco Corporation during the fourth quarter valued at approximately $12,059,000. Cigna Investments Inc. New bought a new position in Masco Corporation during the fourth quarter valued at approximately $381,000. Finally, Congress Asset Management Co. MA bought a new position in Masco Corporation during the fourth quarter valued at approximately $48,852,000. Hedge funds and other institutional investors own 88.65% of the company’s stock.
About Masco Corporation
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Cabinets and Related Products, Plumbing Products, Decorative Architectural Products and Other Specialty Products. It has a portfolio of brands, which includes KRAFTMAID, MERILLAT and PEERLESS.
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