Masco Corporation (MAS) Announces Quarterly Earnings Results
Masco Corporation (NYSE:MAS) posted its earnings results on Tuesday. The construction company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03), Bloomberg Earnings reports. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Masco Corporation updated its FY17 guidance to $1.93-1.97 EPS.
Shares of Masco Corporation (MAS) opened at 40.11 on Tuesday. The company’s 50-day moving average is $38.39 and its 200 day moving average is $37.47. The stock has a market capitalization of $12.65 billion, a P/E ratio of 24.81 and a beta of 1.54. Masco Corporation has a 52 week low of $29.38 and a 52 week high of $40.76.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Friday, October 13th will be paid a dividend of $0.105 per share. This is an increase from Masco Corporation’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, October 12th. Masco Corporation’s dividend payout ratio is presently 25.93%.
In other news, insider Richard A. O’reagan sold 19,498 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $38.18, for a total transaction of $744,433.64. Following the transaction, the insider now directly owns 91,154 shares of the company’s stock, valued at $3,480,259.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Kenneth G. Cole sold 2,266 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $37.36, for a total transaction of $84,657.76. Following the transaction, the vice president now directly owns 85,693 shares in the company, valued at $3,201,490.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,101 shares of company stock worth $916,799. 1.30% of the stock is currently owned by corporate insiders.
Several equities analysts have weighed in on MAS shares. Robert W. Baird reiterated a “buy” rating and issued a $42.00 target price on shares of Masco Corporation in a report on Monday, August 28th. Jefferies Group LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Masco Corporation in a report on Wednesday, July 19th. Zacks Investment Research lowered shares of Masco Corporation from a “buy” rating to a “sell” rating in a report on Tuesday, October 3rd. Credit Suisse Group set a $36.00 price objective on shares of Masco Corporation and gave the stock a “hold” rating in a report on Thursday, July 27th. Finally, Barclays PLC upped their price objective on shares of Masco Corporation from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. Masco Corporation has an average rating of “Buy” and a consensus target price of $40.92.
About Masco Corporation
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
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