Masco (NYSE:MAS) Announces Quarterly Earnings Results, Meets Expectations

Masco (NYSE:MAS) issued its earnings results on Tuesday. The construction company reported $1.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.08, Briefing.com reports. Masco had a net margin of 11.59% and a return on equity of 602.39%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period last year, the business posted $1.00 EPS. Masco’s revenue was up .2% on a year-over-year basis. Masco updated its FY 2024 guidance to 4.050-4.150 EPS and its FY24 guidance to $4.05-4.15 EPS.

Masco Stock Down 1.2 %

Shares of MAS opened at $80.34 on Thursday. Masco has a 12 month low of $51.72 and a 12 month high of $86.70. The firm’s 50 day moving average is $81.56 and its 200-day moving average is $74.45. The stock has a market capitalization of $17.69 billion, a PE ratio of 19.69, a P/E/G ratio of 2.78 and a beta of 1.24. The company has a current ratio of 1.76, a quick ratio of 1.12 and a debt-to-equity ratio of 16.18.

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 issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.16 annualized dividend and a dividend yield of 1.44%. Masco’s dividend payout ratio is presently 28.43%.

Insider Transactions 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 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 $2,896,273.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada downgraded shares of Masco from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $79.00 to $80.00 in a research note on Wednesday. Citigroup cut their target price on shares of Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Truist Financial raised their price objective on shares of Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird cut their price objective on shares of Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Loop Capital raised their price objective on shares of Masco from $76.00 to $87.00 and gave the stock a “hold” rating in a research report 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, Masco presently has an average rating of “Hold” and an average 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.