Masco Corporation (NYSE:MAS) – Investment analysts at Gabelli cut their FY2019 earnings estimates for shares of Masco Corporation in a report issued on Wednesday, Zacks Investment Research reports. Gabelli analyst A. Lacayo now expects that the construction company will post earnings per share of $2.45 for the year, down from their prior forecast of $2.50.
Masco Corporation (NYSE:MAS) last released its earnings results on Tuesday, October 24th. The construction company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.03). Masco Corporation had a negative return on equity of 7,325.00% and a net margin of 7.23%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year.
Other analysts have also issued research reports about the stock. MKM Partners reaffirmed a “buy” rating and set a $44.00 price target (up previously from $43.00) on shares of Masco Corporation in a research report on Tuesday, August 1st. Zacks Investment Research raised shares of Masco Corporation from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Tuesday, September 26th. Robert W. Baird reaffirmed a “buy” rating and set a $42.00 price target on shares of Masco Corporation in a research report on Monday, August 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of Masco Corporation in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $43.00 price target on shares of Masco Corporation in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $42.71.
Shares of Masco Corporation (NYSE MAS) opened at $38.61 on Friday. The company has a market cap of $12,145.35, a P/E ratio of 20.98, a PEG ratio of 1.20 and a beta of 1.56. The company has a current ratio of 1.94, a quick ratio of 1.43 and a debt-to-equity ratio of 49.48. Masco Corporation has a 12-month low of $30.08 and a 12-month high of $41.10.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Friday, October 13th will be paid a $0.105 dividend. This is an increase from Masco Corporation’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.42 annualized dividend and a dividend yield of 1.09%. Masco Corporation’s payout ratio is 25.00%.
In other news, insider Joseph B. Gross sold 2,337 shares of Masco Corporation stock in a transaction on Friday, September 8th. The shares were sold at an average price of $37.53, for a total transaction of $87,707.61. Following the completion of the sale, the insider now directly owns 56,935 shares of the company’s stock, valued at approximately $2,136,770.55. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John G. Sznewajs sold 52,511 shares of Masco Corporation stock in a transaction on Friday, October 27th. The stock was sold at an average price of $39.83, for a total transaction of $2,091,513.13. Following the sale, the chief financial officer now directly owns 391,443 shares of the company’s stock, valued at $15,591,174.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,140 shares of company stock valued at $2,946,110. Insiders own 1.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Masco Corporation during the 2nd quarter worth $101,000. YorkBridge Wealth Partners LLC lifted its position in shares of Masco Corporation by 4.6% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,895 shares of the construction company’s stock worth $110,000 after purchasing an additional 127 shares during the last quarter. Trust Co. of Vermont lifted its position in shares of Masco Corporation by 4.4% during the 2nd quarter. Trust Co. of Vermont now owns 2,964 shares of the construction company’s stock worth $113,000 after purchasing an additional 125 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of Masco Corporation by 27.6% during the 2nd quarter. Advisory Services Network LLC now owns 3,532 shares of the construction company’s stock worth $135,000 after purchasing an additional 763 shares during the last quarter. Finally, Fiduciary Trust Co. purchased a new stake in shares of Masco Corporation during the 2nd quarter worth $166,000. 89.79% of the stock is owned by institutional investors and hedge funds.
Masco Corporation Company Profile
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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