Masco (NYSE:MAS) Price Target Lowered to $77.00 at Citigroup

Masco (NYSE:MAS) had its target price cut by Citigroup from $82.00 to $77.00 in a report issued on Monday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Several other research analysts have also weighed in on the stock. Evercore ISI boosted their price objective on shares of Masco from $78.00 to $82.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Barclays boosted their price target on Masco from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada cut Masco from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $79.00 to $80.00 in a research report on Wednesday, October 30th. Truist Financial boosted their target price on Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $85.00 price target (down previously from $92.00) on shares of Masco in a report on Tuesday, December 17th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.79.

Masco Price Performance

NYSE:MAS opened at $73.14 on Monday. Masco has a 52-week low of $63.81 and a 52-week high of $86.70. The company has a market cap of $15.78 billion, a P/E ratio of 19.45, a P/E/G ratio of 2.55 and a beta of 1.25. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.21 and a current ratio of 1.83. The stock’s 50-day simple moving average is $77.89 and its 200 day simple moving average is $77.19.

Masco (NYSE:MAS) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. Masco had a return on equity of 615.54% and a net margin of 10.54%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 EPS. As a group, sell-side analysts forecast that Masco will post 4.09 EPS for the current fiscal year.

Masco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Friday, November 8th. Masco’s dividend payout ratio is currently 30.85%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MAS. Franklin Resources Inc. boosted its stake in shares of Masco by 20.6% in the third quarter. Franklin Resources Inc. now owns 331,883 shares of the construction company’s stock valued at $28,147,000 after buying an additional 56,626 shares during the period. Seizert Capital Partners LLC lifted its position in shares of Masco by 21.7% during the 3rd quarter. Seizert Capital Partners LLC now owns 540,437 shares of the construction company’s stock valued at $45,364,000 after acquiring an additional 96,415 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Masco by 11.6% during the 2nd quarter. Hsbc Holdings PLC now owns 465,033 shares of the construction company’s stock worth $30,932,000 after purchasing an additional 48,379 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Masco by 14.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 142,443 shares of the construction company’s stock worth $9,497,000 after purchasing an additional 18,287 shares during the period. Finally, National Bank of Canada FI raised its stake in Masco by 22.7% in the second quarter. National Bank of Canada FI now owns 62,323 shares of the construction company’s stock valued at $4,033,000 after purchasing an additional 11,525 shares in the last quarter. 93.91% of the stock is owned by institutional investors.

About Masco

Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.