Masco (NYSE:MAS) Releases FY24 Earnings Guidance

Masco (NYSE:MAS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $4.05-4.15 for the period, compared to the consensus earnings per share estimate of $4.11. Masco also updated its FY 2024 guidance to 4.050-4.150 EPS.

Masco Stock Down 0.8 %

Masco stock traded down $0.69 during trading on Wednesday, reaching $80.61. The stock had a trading volume of 977,077 shares, compared to its average volume of 1,809,208. Masco has a 52-week low of $51.72 and a 52-week high of $86.70. The business has a 50 day moving average price of $81.52 and a 200 day moving average price of $74.41. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18. The stock has a market cap of $17.75 billion, a PE ratio of 19.75, a P/E/G ratio of 2.78 and a beta of 1.24.

Masco (NYSE:MAS) last issued its earnings results on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, hitting analysts’ consensus estimates of $1.08. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 earnings per share. On average, analysts predict that Masco will post 4.1 EPS for the current year.

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, November 8th. Masco’s dividend payout ratio (DPR) is presently 28.43%.

Wall Street Analyst Weigh In

MAS has been the subject of a number of research analyst reports. StockNews.com raised Masco from a “hold” rating to a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company increased their target price on shares of Masco from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. UBS Group boosted their price target on shares of Masco from $89.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays raised their price objective on Masco from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Citigroup reduced their target price on Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Insider Transactions at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total value of $2,961,592.48. Following the transaction, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

About Masco

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.