Masco (MAS) Scheduled to Post Quarterly Earnings on Wednesday

Masco (NYSE:MAS) is set to announce its earnings results 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.Investors that wish to listen to 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.79 billion. Masco had a return on equity of 3,111.50% and a net margin of 11.40%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. On average, analysts expect Masco to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Masco Trading Down 0.7 %

Shares of MAS stock opened at $72.56 on Wednesday. The stock’s fifty day moving average is $75.39 and its two-hundred day moving average is $66.01. The company has a debt-to-equity ratio of 30.05, a quick ratio of 1.08 and a current ratio of 1.68. The firm has a market capitalization of $16.00 billion, a P/E ratio of 18.09, a PEG ratio of 2.29 and a beta of 1.25. Masco has a fifty-two week low of $47.66 and a fifty-two week high of $78.94.

Masco Increases Dividend

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

Insider Buying and Selling at Masco

In other news, VP Richard Allan Marshall sold 5,000 shares of Masco stock in a transaction dated Friday, March 1st. The stock was 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 in the company, valued at approximately $806,328.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Richard Allan Marshall sold 5,000 shares of Masco stock in a transaction dated Friday, March 1st. The stock was 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 in the company, valued at approximately $806,328.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jai Shah sold 42,552 shares of Masco stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $76.36, for a total value of $3,249,270.72. Following the completion of the transaction, the insider now owns 15,830 shares of the company’s stock, valued at approximately $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 three months. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Masco

Several institutional investors have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC lifted its stake in Masco by 118,819.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,978,187 shares of the construction company’s stock valued at $325,672,000 after buying an additional 6,972,319 shares during the last quarter. Norges Bank purchased a new stake in Masco in the fourth quarter valued at approximately $69,716,000. Balyasny Asset Management L.P. purchased a new stake in Masco in the first quarter valued at approximately $44,883,000. Alliancebernstein L.P. lifted its stake in Masco by 209.6% in the second quarter. Alliancebernstein L.P. now owns 1,251,223 shares of the construction company’s stock valued at $71,795,000 after buying an additional 847,062 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Masco by 3,316.8% in the first quarter. Renaissance Technologies LLC now owns 710,700 shares of the construction company’s stock valued at $36,246,000 after buying an additional 689,900 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Analyst Upgrades and Downgrades

MAS has been the subject of a number of recent research reports. Citigroup raised their target price on Masco from $74.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Royal Bank of Canada raised their target price on Masco from $73.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. StockNews.com downgraded Masco from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Oppenheimer initiated coverage on Masco in a research note on Friday, January 19th. They issued a “market perform” rating for the company. Finally, Truist Financial raised their target price on Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.