Wall Street brokerages expect Masco Co. (NYSE:MAS) to announce $2.15 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Masco's earnings, with the highest sales estimate coming in at $2.21 billion and the lowest estimate coming in at $2.06 billion. Masco reported sales of $1.76 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.2%. The firm is scheduled to issue its next earnings report before the market opens on Thursday, July 29th.
On average, analysts expect that Masco will report full year sales of $8.06 billion for the current financial year, with estimates ranging from $7.71 billion to $8.21 billion. For the next year, analysts anticipate that the company will post sales of $8.38 billion, with estimates ranging from $7.96 billion to $8.55 billion. Zacks' sales calculations are a mean average based on a survey of sell-side research firms that cover Masco.
Masco (NYSE:MAS) last released its quarterly earnings results on Wednesday, April 28th. The construction company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.66 by $0.23. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.81 billion. Masco had a net margin of 10.40% and a return on equity of 361.42%. The company's quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 earnings per share.
MAS has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Masco from $64.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 15th. Truist raised their target price on shares of Masco from $70.00 to $75.00 in a research report on Thursday, April 29th. Wells Fargo & Company initiated coverage on shares of Masco in a research report on Thursday, July 15th. They set an "overweight" rating and a $68.00 target price on the stock. Loop Capital decreased their target price on shares of Masco from $67.00 to $63.00 and set a "hold" rating on the stock in a research report on Wednesday, July 7th. Finally, TheStreet lowered shares of Masco from a "b" rating to a "c+" rating in a report on Friday, May 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Masco presently has a consensus rating of "Hold" and an average target price of $67.00.
Shares of NYSE MAS opened at $59.50 on Thursday. Masco has a 1 year low of $51.53 and a 1 year high of $68.54. The stock's 50 day moving average price is $59.45. The firm has a market capitalization of $15.10 billion, a price-to-earnings ratio of 19.97 and a beta of 1.33. The company has a debt-to-equity ratio of 13.62, a quick ratio of 1.29 and a current ratio of 1.83.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 14th. Stockholders of record on Friday, May 28th were paid a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, May 27th. This is an increase from Masco's previous quarterly dividend of $0.14. Masco's dividend payout ratio (DPR) is currently 30.13%.
In related news, VP Kenneth G. Cole sold 32,094 shares of Masco stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $65.11, for a total transaction of $2,089,640.34. Following the sale, the vice president now owns 89,869 shares of the company's stock, valued at approximately $5,851,370.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Keith J. Allman sold 10,000 shares of Masco stock in a transaction on Wednesday, July 14th. The stock was sold at an average price of $58.28, for a total transaction of $582,800.00. Following the sale, the chief executive officer now directly owns 334,701 shares in the company, valued at approximately $19,506,374.28. The disclosure for this sale can be found here. In the last three months, insiders sold 82,656 shares of company stock worth $5,340,170. Insiders own 1.20% of the company's stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Masco by 1.5% during the 1st quarter. BlackRock Inc. now owns 20,089,153 shares of the construction company's stock worth $1,203,342,000 after buying an additional 303,715 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Masco by 4.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,746,739 shares of the construction company's stock worth $1,182,830,000 after acquiring an additional 921,889 shares in the last quarter. Geode Capital Management LLC grew its holdings in Masco by 0.4% during the 1st quarter. Geode Capital Management LLC now owns 4,299,953 shares of the construction company's stock worth $256,897,000 after acquiring an additional 17,625 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in Masco by 18.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 4,122,520 shares of the construction company's stock worth $246,939,000 after acquiring an additional 644,239 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Masco by 3.7% during the 4th quarter. Nuveen Asset Management LLC now owns 3,778,682 shares of the construction company's stock worth $207,563,000 after acquiring an additional 134,086 shares in the last quarter. 90.90% of the stock is currently owned by hedge funds and other institutional investors.
Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company operates through two segments, Plumbing Products and Decorative Architectural Products. The 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.
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