Masco (NYSE:MAS) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

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

Masco Price Performance

Masco stock opened at $69.85 on Friday. The company’s 50 day simple moving average is $75.17 and its 200-day simple moving average is $66.88. The company has a market capitalization of $15.38 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 18.76, a quick ratio of 1.08 and a current ratio of 1.74.

Masco Increases Dividend

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, VP Richard Allan Marshall sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were 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 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 is available through this hyperlink. In related news, VP Richard Allan Marshall sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $77.05, for a total transaction of $385,250.00. Following the sale, the vice president now directly owns 10,465 shares of the company’s stock, valued at approximately $806,328.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kenneth G. Cole sold 36,210 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the sale, the vice president now directly owns 58,885 shares in the company, valued at $4,395,765.25. 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. Company 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.