Masco (NYSE:MAS) Releases FY 2024 Earnings Guidance

Masco (NYSE:MAS) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 4.050-4.150 for the period, compared to the consensus earnings per share estimate of 4.110. The company issued revenue guidance of -. Masco also updated its FY24 guidance to $4.05-4.15 EPS.

Masco Stock Performance

Shares of NYSE MAS opened at $80.82 on Friday. The company’s fifty day moving average price is $81.56 and its 200 day moving average price is $74.45. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.12 and a current ratio of 1.83. Masco has a 1 year low of $53.44 and a 1 year high of $86.70. The company has a market capitalization of $17.44 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 2.71 and a beta of 1.24.

Masco (NYSE:MAS) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, meeting the consensus estimate of $1.08. Masco had a return on equity of 615.54% and a net margin of 10.54%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. During the same period last year, the company earned $1.00 earnings per share. Masco’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts predict that Masco will post 4.11 earnings per share for the current year.

Masco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.16 dividend on an annualized basis and a yield of 1.44%. Masco’s payout ratio is currently 30.85%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MAS shares. UBS Group raised their target price on shares of Masco from $89.00 to $94.00 and gave the stock a “buy” 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 company an “overweight” rating in a research report on Monday, October 7th. Loop Capital increased their price target on Masco from $76.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday. Barclays raised their price objective on shares of Masco from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Royal Bank of Canada downgraded shares of Masco from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $79.00 to $80.00 in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.85.

Insider Buying and Selling

In related news, VP Kenneth G. Cole sold 37,814 shares of the firm’s stock in a transaction dated 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 completion of the sale, the vice president now owns 36,980 shares in the company, valued at $2,896,273.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

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.