Masco (NYSE:MAS) Announces Earnings Results

Masco (NYSE:MAS) released its quarterly earnings data on Tuesday. The construction company reported $1.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.08, Briefing.com reports. Masco had a return on equity of 615.54% and a net margin of 10.54%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period in the prior year, the firm posted $1.00 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. Masco updated its FY 2024 guidance to 4.050-4.150 EPS and its FY24 guidance to $4.05-4.15 EPS.

Masco Stock Performance

NYSE:MAS opened at $79.91 on Friday. Masco has a twelve month low of $51.72 and a twelve month high of $86.70. The company has a market capitalization of $17.24 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 2.71 and a beta of 1.24. The company has a current ratio of 1.83, a quick ratio of 1.12 and a debt-to-equity ratio of 20.74. The firm has a 50-day moving average price of $81.56 and a two-hundred day moving average price of $74.45.

Masco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be paid a $0.29 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.16 dividend on an annualized basis and a yield of 1.45%. Masco’s payout ratio is 30.85%.

Insider Buying and Selling at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the completion of the transaction, the vice president now directly owns 36,980 shares in the company, valued at $2,896,273.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MAS shares. UBS Group upped their target price on shares of Masco from $89.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday. Loop Capital upped their price objective on shares of Masco from $76.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Royal Bank of Canada cut Masco from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $79.00 to $80.00 in a research note on Wednesday. Finally, BMO Capital Markets upped their price target on shares of Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.85.

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.