Masco Corp (NYSE:MAS) – Investment analysts at Jefferies Financial Group issued their FY2019 earnings estimates for shares of Masco in a note issued to investors on Wednesday, November 20th. Jefferies Financial Group analyst P. Ng expects that the construction company will post earnings per share of $2.26 for the year. Jefferies Financial Group also issued estimates for Masco’s Q4 2019 earnings at $0.54 EPS, Q1 2020 earnings at $0.42 EPS, Q2 2020 earnings at $0.79 EPS, Q3 2020 earnings at $0.67 EPS, Q4 2020 earnings at $0.60 EPS, FY2020 earnings at $2.48 EPS and FY2021 earnings at $2.81 EPS.
A number of other equities research analysts have also recently issued reports on MAS. Deutsche Bank began coverage on shares of Masco in a report on Wednesday, November 20th. They set a “buy” rating and a $52.00 target price on the stock. Zelman & Associates cut shares of 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. Zacks Investment Research raised shares of Masco from a “sell” rating to a “hold” rating and set a $48.00 target price on the stock in a report on Friday, November 1st. TheStreet raised shares of Masco from a “c+” rating to a “b-” rating in a report on Tuesday, October 22nd. Finally, Buckingham Research cut shares of Masco from a “buy” rating to a “neutral” rating and lowered their target price for the company from $49.00 to $46.00 in a report on Wednesday, September 18th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Masco has an average rating of “Buy” and a consensus target price of $47.15.
Masco (NYSE:MAS) last issued its earnings results on Wednesday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01). Masco had a net margin of 8.27% and a return on equity of 1,500.49%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm earned $0.61 EPS. The company’s revenue was up 2.3% compared to the same quarter last year.
Masco declared that its Board of Directors has initiated a stock repurchase program on Tuesday, September 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 16.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, October 11th were issued a $0.135 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.54 annualized dividend and a dividend yield of 1.16%. This is a boost from Masco’s previous quarterly dividend of $0.12. Masco’s dividend payout ratio is presently 21.60%.
In other news, Director Richard A. Manoogian sold 123,138 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $45.83, for a total value of $5,643,414.54. Following the transaction, the director now owns 506,513 shares of the company’s stock, valued at $23,213,490.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marie A. Ffolkes sold 1,957 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $46.22, for a total transaction of $90,452.54. Following the completion of the transaction, the director now directly owns 7,603 shares in the company, valued at approximately $351,410.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,338 shares of company stock worth $9,580,323. Insiders own 1.17% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in MAS. First Trust Advisors LP bought a new position in shares of Masco in the first quarter worth $1,280,000. WINTON GROUP Ltd purchased a new position in Masco in the second quarter worth $213,000. Nisa Investment Advisors LLC grew its position in Masco by 245.2% in the second quarter. Nisa Investment Advisors LLC now owns 68,508 shares of the construction company’s stock worth $2,688,000 after acquiring an additional 48,660 shares in the last quarter. SevenBridge Financial Group LLC grew its position in Masco by 271.3% in the second quarter. SevenBridge Financial Group LLC now owns 1,218 shares of the construction company’s stock worth $48,000 after acquiring an additional 890 shares in the last quarter. Finally, Capital Asset Advisory Services LLC purchased a new position in Masco in the second quarter worth $566,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.
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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