Masco’s Neutral Rating Reaffirmed at Zacks (MAS)
Masco (NYSE:MAS)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Wednesday. They currently have a $23.00 price objective on the stock. Zacks‘s price objective would suggest a potential upside of 6.09% from the company’s current price.
Zacks’ analyst wrote, “After a strong 2013, Masco began 2014 on a softer note missing the Zacks Consensus Estimate for both revenues and earnings as North American sales and profitability were impacted by rough weather and slowdown in construction activity. Earnings increased 15.4% year over year as decent margins made up for the relatively softer revenue performance. Revenues grew 4.8% year over year as strong international sales made up for softer North American revenues. With the U.S. residential activity slowing down in the second half of 2013, the demand for Masco’s products has begun to decline. Despite the near-term weakness, we have faith in the company’s strong fundamentals. We are encouraged by Masco’s continued focus on product innovation and cost improvements. We, therefore, maintain our Neutral recommendation on the stock.”
Shares of Masco (NYSE:MAS) traded up 1.11% on Wednesday, hitting $21.92. 2,581,280 shares of the company’s stock traded hands. Masco has a one year low of $18.27 and a one year high of $23.73. The stock has a 50-day moving average of $21.2 and a 200-day moving average of $21.9. The company has a market cap of $7.815 billion and a price-to-earnings ratio of 26.70.
Masco (NYSE:MAS) last released its earnings data on Thursday, April 24th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.18 by $0.03. The company had revenue of $2.00 billion for the quarter, compared to the consensus estimate of $2.00 billion. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts expect that Masco will post $1.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Thursday, June 12th. This is a positive change from Masco’s previous quarterly dividend of $0.08.
A number of other firms have also recently commented on MAS. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Masco in a research note on Tuesday, June 3rd. They now have a $22.00 price target on the stock. Separately, analysts at Longbow Research reiterated a “neutral” rating on shares of Masco in a research note on Tuesday, May 13th. Finally, analysts at Jefferies Group upgraded shares of Masco from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th. They now have a $25.00 price target on the stock, up previously from $23.00. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Masco presently has an average rating of “Buy” and a consensus target price of $23.43.
Masco Corporation manufactures, distributes and installs home improvement and building products. The Company is a manufacturer of a number of home improvements and building products, including faucets, cabinets, architectural coatings and windows, and the installer of insulation for the new home construction market.
To view Zacks’ full report, visit Zacks’ official website.
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