Masco (NYSE:MAS) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Masco (NYSE:MAS - Get Free Report) announced its quarterly earnings data on Wednesday. The construction company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.87 by $0.06, RTT News reports. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.94 billion. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. The company's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 EPS. Masco updated its FY24 guidance to $4.00-4.25 EPS and its FY 2024 guidance to 4.000-4.250 EPS.

Masco Stock Performance

Shares of NYSE MAS traded down $3.27 during mid-day trading on Wednesday, reaching $69.74. 4,613,734 shares of the company's stock were exchanged, compared to its average volume of 2,073,021. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 2.24 and a beta of 1.25. Masco has a 52 week low of $47.66 and a 52 week high of $78.94. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.68 and a quick ratio of 1.08. The firm has a 50-day moving average price of $75.31 and a two-hundred day moving average price of $66.74.

Masco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.29 per share. The ex-dividend date was Wednesday, February 21st. This is a boost from Masco's previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a yield of 1.66%. Masco's dividend payout ratio (DPR) is 28.93%.

Wall Street Analyst Weigh In

Several analysts have recently commented on MAS shares. Royal Bank of Canada raised their price objective on shares of Masco from $73.00 to $79.00 and gave the stock an "outperform" rating in a research report on Friday, February 9th. Truist Financial raised their price objective on shares of Masco from $65.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. Oppenheimer started coverage on Masco in a report on Friday, January 19th. They issued a "market perform" rating on the stock. Citigroup increased their target price on Masco from $74.00 to $79.00 and gave the stock a "neutral" rating in a report on Friday, April 5th. Finally, StockNews.com cut Masco from a "buy" rating to a "hold" rating in a report on Wednesday, March 27th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Masco has an average rating of "Moderate Buy" and an average target price of $69.62.

Insider Transactions at Masco

In other news, VP Richard Allan Marshall sold 5,000 shares of Masco stock in a transaction on Friday, March 1st. The stock was sold at an average price of $77.05, for a total transaction of $385,250.00. Following the sale, the vice president now directly owns 10,465 shares in the company, valued at approximately $806,328.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jai Shah sold 42,552 shares of Masco stock in a transaction 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 sale, the insider now directly owns 15,830 shares in the company, valued at approximately $1,208,778.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the vice president now directly owns 10,465 shares of the company's stock, valued at approximately $806,328.25. The disclosure for this sale can be found here. Insiders have sold 83,762 shares of company stock worth $6,337,597 in the last ninety days. Company insiders own 1.10% of the company's stock.

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.