Masco (NYSE:MAS) Releases FY24 Earnings Guidance

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

Masco Stock Performance

MAS traded up $0.98 on Friday, hitting $80.89. The company had a trading volume of 146,335 shares, compared to its average volume of 1,808,350. The company’s fifty day moving average price is $81.56 and its 200 day moving average price is $74.45. Masco has a 1-year low of $53.44 and a 1-year high of $86.70. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.83 and a quick ratio of 1.12. The stock has a market cap of $17.45 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.71 and a beta of 1.24.

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

Masco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Friday, November 8th. Masco’s dividend payout ratio (DPR) is currently 30.85%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MAS. Jefferies Financial Group lifted their target price on Masco from $89.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird lowered their price target on Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a report on Wednesday. Truist Financial boosted their price target on Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday. Loop Capital boosted their price target on Masco from $76.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, BMO Capital Markets upped their target price on Masco from $78.00 to $85.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $84.85.

Insider Buying and Selling at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction 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 sale, the vice president now owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.