Masco (MAS) Scheduled to Post Quarterly Earnings on Wednesday

Masco (NYSE:MAS) will issue its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.87 per share for the quarter. Masco has set its FY24 guidance at $4.00-$4.25 EPS and its FY 2024 guidance at 4.000-4.250 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Masco (NYSE:MAS) last announced its quarterly earnings data on Thursday, February 8th. The construction company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.66 by $0.17. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.79 billion. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. On average, analysts expect Masco to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Masco Price Performance

MAS opened at $72.56 on Wednesday. The company has a market capitalization of $16.00 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.29 and a beta of 1.25. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 30.05. The firm has a 50-day moving average price of $75.39 and a 200-day moving average price of $66.01. Masco has a twelve month low of $47.66 and a twelve month high of $78.94.

Masco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Thursday, February 22nd were paid a $0.29 dividend. This is an increase from Masco’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.16 annualized dividend and a dividend yield of 1.60%. Masco’s dividend payout ratio (DPR) is presently 28.93%.

Insiders Place Their Bets

In other Masco 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 completion of the transaction, the vice president now owns 10,465 shares of the company’s stock, valued at approximately $806,328.25. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 completion of the sale, the vice president now directly owns 10,465 shares in the company, valued at approximately $806,328.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jai Shah sold 42,552 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 15,830 shares of the company’s stock, valued at $1,208,778.80. The disclosure for this sale can be found here. Insiders sold a total of 83,762 shares of company stock valued at $6,337,597 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Masco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAS. Harbour Investments Inc. raised its holdings in Masco by 137.5% during the 4th quarter. Harbour Investments Inc. now owns 532 shares of the construction company’s stock valued at $36,000 after buying an additional 308 shares during the last quarter. Highlander Capital Management LLC bought a new position in Masco in the 4th quarter worth $82,000. UniSuper Management Pty Ltd bought a new position in Masco in the 2nd quarter worth $92,000. Zions Bancorporation N.A. raised its holdings in Masco by 157.1% in the 1st quarter. Zions Bancorporation N.A. now owns 2,193 shares of the construction company’s stock worth $112,000 after purchasing an additional 1,340 shares in the last quarter. Finally, State of Wyoming bought a new position in Masco in the 2nd quarter worth $125,000. 93.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Masco from $74.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Oppenheimer assumed coverage on shares of Masco in a research note on Friday, January 19th. They issued a “market perform” rating for the company. Royal Bank of Canada boosted their price objective on shares of Masco from $73.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. StockNews.com cut shares of Masco from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Finally, Truist Financial boosted their price objective on shares of Masco from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $69.62.

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.