Masco (NYSE:MAS) Issues FY 2024 Earnings Guidance

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

Masco Stock Down 4.5 %

Shares of NYSE MAS traded down $3.27 on Wednesday, hitting $69.74. The company had a trading volume of 4,613,734 shares, compared to its average volume of 2,073,021. The business has a 50 day moving average of $75.31 and a two-hundred day moving average of $66.74. Masco has a 12-month low of $47.66 and a 12-month high of $78.94. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 30.05. The firm has a market capitalization of $15.38 billion, a P/E ratio of 17.39, a PEG ratio of 2.24 and a beta of 1.25.

Masco (NYSE:MAS) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.93 earnings per share (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 business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the company posted $0.87 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities research analysts forecast that Masco will post 4.11 earnings per share for the current fiscal year.

Masco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.29 per share. This is a boost from Masco’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.16 annualized dividend and a yield of 1.66%. Masco’s dividend payout ratio (DPR) is presently 28.93%.

Wall Street Analysts Forecast Growth

MAS has been the topic of a number of research analyst reports. Oppenheimer began coverage on shares of Masco in a research note on Friday, January 19th. They set a market perform rating on the stock. Royal Bank of Canada raised their target price on Masco from $73.00 to $79.00 and gave the company an outperform rating in a research note on Friday, February 9th. Truist Financial upped 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. StockNews.com downgraded shares of Masco from a buy rating to a hold rating in a report on Wednesday, March 27th. Finally, 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. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Masco currently has a consensus rating of Moderate Buy and a consensus target price of $69.62.

Insider Buying and Selling

In related news, VP Richard Allan Marshall sold 5,000 shares of Masco stock in a transaction on Friday, March 1st. The shares were sold at an average price of $77.05, for a total value of $385,250.00. Following the transaction, the vice president now 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 is accessible through this hyperlink. In related news, insider Jai Shah sold 42,552 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following the transaction, the insider now directly owns 15,830 shares in the company, valued at $1,208,778.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Allan Marshall sold 5,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $77.05, for a total value of $385,250.00. Following the completion of the transaction, 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. Over the last three months, insiders sold 83,762 shares of company stock worth $6,337,597. Corporate 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.