Masco (NYSE:MAS) Issues Earnings Results, Beats Estimates By $0.10 EPS

Masco (NYSE:MASGet Rating) issued its earnings results on Wednesday. The construction company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.10, MarketWatch Earnings reports. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Masco had a net margin of 4.90% and a return on equity of 856.22%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 EPS. Masco updated its FY22 guidance to $4.15-$4.35 EPS.

MAS stock traded up $2.25 on Wednesday, reaching $54.98. 309,048 shares of the company traded hands, compared to its average volume of 2,427,717. Masco has a one year low of $48.78 and a one year high of $71.06. The company has a debt-to-equity ratio of 52.66, a current ratio of 1.76 and a quick ratio of 1.14. The company has a market cap of $13.00 billion, a P/E ratio of 32.15, a price-to-earnings-growth ratio of 1.16 and a beta of 1.35. The firm has a fifty day simple moving average of $53.49 and a 200-day simple moving average of $60.99.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 14th. Investors of record on Friday, February 25th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Thursday, February 24th. This is a positive change from Masco’s previous quarterly dividend of $0.24. Masco’s dividend payout ratio (DPR) is 68.29%.

In other Masco news, CEO Keith J. Allman sold 10,000 shares of Masco stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $49.88, for a total value of $498,800.00. Following the completion of the sale, the chief executive officer now owns 298,295 shares of the company’s stock, valued at approximately $14,878,954.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John G. Sznewajs sold 12,447 shares of Masco stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $60.25, for a total value of $749,931.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,331 shares of company stock valued at $3,911,613. 1.20% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in MAS. Morgan Stanley boosted its stake in shares of Masco by 11.9% in the 2nd quarter. Morgan Stanley now owns 936,129 shares of the construction company’s stock worth $55,148,000 after buying an additional 99,681 shares during the last quarter. Cetera Investment Advisers purchased a new position in Masco during the fourth quarter valued at $223,000. Sei Investments Co. lifted its position in Masco by 0.4% during the fourth quarter. Sei Investments Co. now owns 121,554 shares of the construction company’s stock valued at $8,540,000 after purchasing an additional 486 shares in the last quarter. Belpointe Asset Management LLC lifted its position in Masco by 4.3% during the fourth quarter. Belpointe Asset Management LLC now owns 7,330 shares of the construction company’s stock valued at $515,000 after purchasing an additional 300 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Masco by 0.8% during the fourth quarter. Amalgamated Bank now owns 69,978 shares of the construction company’s stock valued at $4,914,000 after purchasing an additional 563 shares in the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.

A number of research firms have issued reports on MAS. Truist Financial boosted their price objective on shares of Masco from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, January 5th. KeyCorp decreased their price objective on shares of Masco from $79.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 9th. Loop Capital decreased their price objective on shares of Masco from $65.00 to $56.00 and set a “hold” rating on the stock in a research report on Wednesday, April 6th. Credit Suisse Group started coverage on shares of Masco in a research note on Tuesday, April 5th. They set an “underperform” rating and a $50.00 target price on the stock. Finally, The Goldman Sachs Group reduced their price target on shares of Masco from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, April 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $66.69.

About Masco (Get Rating)

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.

See Also

Earnings History for Masco (NYSE:MAS)

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