Masco (NYSE:MAS) Releases FY24 Earnings Guidance

Masco (NYSE:MAS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.05-4.15 for the period, compared to the consensus estimate of $4.11. Masco also updated its FY 2024 guidance to 4.050-4.150 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MAS shares. Barclays increased their price target on Masco from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. StockNews.com upgraded shares of Masco from a “hold” rating to a “buy” rating in a report on Monday, October 21st. BMO Capital Markets boosted their price target on shares of Masco from $78.00 to $85.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Truist Financial upped their price target on Masco from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada raised their price objective on shares of Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Masco currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.75.

Masco Price Performance

NYSE MAS traded down $0.18 during trading on Tuesday, hitting $81.50. 1,874,563 shares of the stock traded hands, compared to its average volume of 1,804,571. The firm has a 50-day simple moving average of $81.43 and a 200-day simple moving average of $74.35. Masco has a 12-month low of $50.98 and a 12-month high of $86.70. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18. The company has a market capitalization of $17.95 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 2.78 and a beta of 1.24.

Insider Buying and Selling

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the completion of the sale, the vice president now directly owns 36,980 shares of the company’s stock, valued at $2,896,273.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.