Wall Street brokerages expect Masco Corp (NYSE:MAS) to post sales of $1.64 billion for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Masco’s earnings, with the lowest sales estimate coming in at $1.63 billion and the highest estimate coming in at $1.67 billion. Masco reported sales of $2.04 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 19.6%. The company is expected to announce its next quarterly earnings report on Thursday, February 6th.
On average, analysts expect that Masco will report full-year sales of $6.72 billion for the current financial year, with estimates ranging from $6.70 billion to $6.75 billion. For the next financial year, analysts anticipate that the company will post sales of $6.96 billion, with estimates ranging from $6.87 billion to $7.10 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Masco.
Masco (NYSE:MAS) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.01). The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Masco had a net margin of 8.27% and a return on equity of 1,500.49%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 earnings per share.
A number of brokerages have recently issued reports on MAS. SunTrust Banks lowered their price target on Masco from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. TheStreet upgraded Masco from a “c+” rating to a “b-” rating in a report on Tuesday, October 22nd. Zacks Investment Research upgraded Masco from a “sell” rating to a “hold” rating and set a $48.00 price objective on the stock in a report on Friday, November 1st. Argus increased their price objective on Masco from $44.00 to $48.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Zelman & Associates downgraded Masco from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $47.15.
In related news, Director Richard A. Manoogian sold 123,138 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $45.83, for a total value of $5,643,414.54. Following the completion of the sale, the director now directly owns 506,513 shares of the company’s stock, valued at approximately $23,213,490.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Richard A. O’reagan sold 11,125 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $45.85, for a total value of $510,081.25. Following the completion of the sale, the insider now directly owns 43,278 shares of the company’s stock, valued at $1,984,296.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 229,338 shares of company stock valued at $10,502,323. Insiders own 1.17% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Ballentine Partners LLC acquired a new stake in Masco during the 2nd quarter worth approximately $219,000. ELCO Management Co. LLC lifted its position in Masco by 30.7% during the 2nd quarter. ELCO Management Co. LLC now owns 8,823 shares of the construction company’s stock worth $346,000 after acquiring an additional 2,072 shares during the period. IFM Investors Pty Ltd lifted its position in Masco by 66.6% during the 3rd quarter. IFM Investors Pty Ltd now owns 34,713 shares of the construction company’s stock worth $1,447,000 after acquiring an additional 13,873 shares during the period. Mackenzie Financial Corp lifted its position in Masco by 340.9% during the 2nd quarter. Mackenzie Financial Corp now owns 49,140 shares of the construction company’s stock worth $1,928,000 after acquiring an additional 37,994 shares during the period. Finally, Ancora Advisors LLC lifted its position in Masco by 19.2% during the 2nd quarter. Ancora Advisors LLC now owns 219,054 shares of the construction company’s stock worth $8,596,000 after acquiring an additional 35,292 shares during the period. 91.87% of the stock is owned by institutional investors.
Shares of NYSE:MAS traded up $0.47 during trading on Friday, reaching $45.57. The stock had a trading volume of 2,470,769 shares, compared to its average volume of 3,274,838. The company has a debt-to-equity ratio of 120.48, a quick ratio of 0.98 and a current ratio of 1.46. The business has a fifty day moving average price of $45.54 and a 200-day moving average price of $41.02. The stock has a market cap of $13.32 billion, a PE ratio of 18.23, a PEG ratio of 2.43 and a beta of 1.42. Masco has a 1-year low of $27.03 and a 1-year high of $47.51.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, October 11th were given a $0.135 dividend. The ex-dividend date was Thursday, October 10th. This is a boost from Masco’s previous quarterly dividend of $0.12. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.18%. Masco’s dividend payout ratio is 21.60%.
Masco announced that its Board of Directors has initiated a share repurchase plan on Tuesday, September 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the construction company to repurchase up to 16.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Masco Company Profile
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.
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