Masco Corp to Post FY2018 Earnings of $2.43 Per Share, SunTrust Banks Forecasts (MAS)
Masco Corp (NYSE:MAS) – Research analysts at SunTrust Banks upped their FY2018 earnings per share estimates for Masco in a research report issued to clients and investors on Monday, December 3rd. SunTrust Banks analyst K. Hughes now anticipates that the construction company will post earnings per share of $2.43 for the year, up from their previous forecast of $2.42. SunTrust Banks currently has a “Buy” rating and a $40.00 target price on the stock. SunTrust Banks also issued estimates for Masco’s Q1 2019 earnings at $0.55 EPS and FY2019 earnings at $2.68 EPS.
Masco (NYSE:MAS) last issued its earnings results on Tuesday, October 30th. The construction company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.05). The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.17 billion. Masco had a net margin of 7.65% and a return on equity of 409.25%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS.
Shares of Masco stock opened at $30.13 on Thursday. The stock has a market capitalization of $9.37 billion, a PE ratio of 15.53, a P/E/G ratio of 0.90 and a beta of 1.56. The company has a current ratio of 1.71, a quick ratio of 1.13 and a debt-to-equity ratio of 14.35. Masco has a 1 year low of $27.15 and a 1 year high of $46.44.
Several large investors have recently made changes to their positions in MAS. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Masco by 103.4% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,655 shares of the construction company’s stock valued at $134,000 after purchasing an additional 1,858 shares during the period. Acropolis Investment Management LLC acquired a new stake in shares of Masco in the third quarter valued at approximately $146,000. NuWave Investment Management LLC increased its stake in shares of Masco by 3,600.9% in the third quarter. NuWave Investment Management LLC now owns 4,182 shares of the construction company’s stock valued at $153,000 after purchasing an additional 4,069 shares during the period. Kovack Advisors Inc. acquired a new stake in shares of Masco in the third quarter valued at approximately $200,000. Finally, Atria Investments LLC acquired a new stake in shares of Masco in the third quarter valued at approximately $207,000. Institutional investors own 89.27% of the company’s stock.
In other Masco news, Director Richard A. Manoogian sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $30.98, for a total value of $3,098,000.00. Following the sale, the director now owns 625,961 shares in the company, valued at $19,392,271.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the director now owns 575,961 shares in the company, valued at approximately $18,027,579.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 212,900 shares of company stock worth $6,631,092. 1.20% of the stock is owned by company insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 13th. Investors of record on Friday, October 12th were paid a dividend of $0.12 per share. This is a positive change from Masco’s previous quarterly dividend of $0.11. The ex-dividend date was Thursday, October 11th. This represents a $0.48 annualized dividend and a yield of 1.59%. Masco’s dividend payout ratio is 24.74%.
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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