Masco (NYSE:MAS) Issues Earnings Results, Hits Expectations

Masco (NYSE:MAS - Get Free Report) announced its quarterly earnings results on Tuesday. The construction company reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08, Briefing.com reports. Masco had a net margin of 11.59% and a return on equity of 602.39%. The company had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $2 billion. During the same quarter in the previous year, the business posted $1.00 earnings per share. Masco's quarterly revenue was up .2% on a year-over-year basis. 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 0.8 %

Shares of NYSE MAS traded down $0.63 during mid-day trading on Wednesday, reaching $80.67. The company had a trading volume of 1,059,251 shares, compared to its average volume of 1,809,599. The business's 50-day moving average is $81.52 and its 200-day moving average is $74.41. The company has a current ratio of 1.76, a quick ratio of 1.12 and a debt-to-equity ratio of 16.18. The stock has a market cap of $17.77 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 2.78 and a beta of 1.24. Masco has a 52 week low of $51.72 and a 52 week high of $86.70.

Masco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, November 8th. Masco's payout ratio is presently 28.43%.

Analyst Ratings Changes

Several brokerages recently weighed in on MAS. Evercore ISI boosted their price target on shares of Masco from $78.00 to $82.00 and gave the stock an "in-line" rating in a research report on Wednesday. StockNews.com upgraded shares of Masco from a "hold" rating to a "buy" rating in a research report on Monday, October 21st. BMO Capital Markets boosted their price target on shares of Masco from $78.00 to $85.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 22nd. Barclays boosted their price objective on shares of Masco from $92.00 to $93.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Royal Bank of Canada cut shares of Masco from an "outperform" rating to a "sector perform" rating and boosted their price objective for the company from $79.00 to $80.00 in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Masco has a consensus rating of "Moderate Buy" and an average target price of $84.00.

Insider Transactions at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total value of $2,961,592.48. Following the completion of the sale, the vice president now directly owns 36,980 shares of the company's stock, valued at $2,896,273.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.