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

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

Masco Trading Down 0.7 %

Shares of MAS opened at $80.70 on Wednesday. The stock has a fifty day moving average of $81.52 and a two-hundred day moving average of $74.41. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76. The company has a market capitalization of $17.77 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 2.78 and a beta of 1.24. Masco has a fifty-two week low of $51.72 and a fifty-two week high of $86.70.

Masco Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.44%. Masco’s dividend payout ratio (DPR) is presently 28.43%.

Insider Buying and Selling at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total value 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 approximately $2,896,273.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Jefferies Financial Group boosted their price target on Masco from $89.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. StockNews.com raised Masco from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. Barclays boosted their price target on Masco from $88.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Wells Fargo & Company lifted their price objective on Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada downgraded Masco from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $79.00 to $80.00 in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.75.

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.