Masco (NYSE:MAS) Releases FY 2024 Earnings Guidance

Masco (NYSE:MAS) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 4.050-4.150 for the period, compared to the consensus EPS 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 traded down $0.66 during trading on Wednesday, reaching $80.64. The stock had a trading volume of 811,553 shares, compared to its average volume of 1,808,420. The firm’s 50 day moving average price is $81.52 and its two-hundred day moving average price is $74.41. Masco has a one year low of $51.72 and a one year high of $86.70. The stock has a market cap of $17.76 billion, a PE ratio of 19.74, a P/E/G ratio of 2.78 and a beta of 1.24. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76.

Masco (NYSE:MAS) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. Masco’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 earnings per share. On average, research analysts forecast that Masco will post 4.1 earnings per share for the current fiscal year.

Masco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given 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 is presently 28.43%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Evercore ISI increased their price target on Masco from $78.00 to $82.00 and gave the stock an “in-line” rating in a research note on Wednesday. Jefferies Financial Group raised their target price on shares of Masco from $89.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group boosted their price target on shares of Masco from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on shares of Masco from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada cut Masco from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $79.00 to $80.00 in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.92.

Insider Activity at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of the company’s 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 transaction, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by 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.