Masco (NYSE:MAS) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Masco (NYSE:MAS) issued its earnings results on Wednesday. The construction company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.87 by $0.06, RTT News reports. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Masco had a return on equity of 865.37% and a net margin of 11.60%. Masco’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.87 earnings per share. Masco updated its FY24 guidance to $4.00-4.25 EPS and its FY 2024 guidance to 4.000-4.250 EPS.

Masco Stock Down 0.0 %

MAS stock opened at $69.85 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.08 and a debt-to-equity ratio of 18.76. The firm has a market capitalization of $15.38 billion, a PE ratio of 17.12, a PEG ratio of 2.17 and a beta of 1.25. Masco has a 1-year low of $47.66 and a 1-year high of $78.94. The business’s 50 day simple moving average is $75.17 and its 200 day simple moving average is $66.88.

Masco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.66%. This is a boost from Masco’s previous quarterly dividend of $0.29. Masco’s dividend payout ratio is currently 28.43%.

Insider Buying and Selling

In related news, VP Richard Allan Marshall sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $77.05, for a total transaction of $385,250.00. Following the transaction, the vice president now directly owns 10,465 shares of the company’s stock, valued at approximately $806,328.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jai Shah sold 42,552 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following the sale, the insider now directly owns 15,830 shares of the company’s stock, valued at approximately $1,208,778.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Richard Allan Marshall sold 5,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $77.05, for a total value of $385,250.00. Following the sale, the vice president now directly owns 10,465 shares in the company, valued at $806,328.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,762 shares of company stock valued at $6,337,597. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on MAS. Truist Financial lifted their price objective on Masco from $65.00 to $81.00 and gave the company a “buy” rating in a report on Friday, February 9th. StockNews.com upgraded Masco from a “hold” rating to a “buy” rating in a research report on Thursday. Evercore ISI decreased their target price on Masco from $75.00 to $74.00 and set an “in-line” rating for the company in a research report on Thursday. Royal Bank of Canada boosted their target price on Masco from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Oppenheimer began coverage on Masco in a report on Friday, January 19th. They set a “market perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Masco Company Profile

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.