Masco (NYSE:MAS) Price Target Raised to $79.00

Masco (NYSE:MAS) had its price target raised by Royal Bank of Canada from $78.00 to $79.00 in a research report sent to investors on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the construction company’s stock.

MAS has been the topic of a number of other reports. Citigroup decreased their price objective on shares of Masco from $73.00 to $66.00 and set a neutral rating on the stock in a research note on Thursday, July 11th. Barclays decreased their price objective on shares of Masco from $87.00 to $79.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Jefferies Financial Group lifted their price objective on shares of Masco from $83.00 to $86.00 and gave the company a buy rating in a research note on Wednesday, July 17th. Truist Financial lifted their price objective on shares of Masco from $81.00 to $84.00 and gave the company a buy rating in a research note on Friday. Finally, Robert W. Baird lifted their price objective on shares of Masco from $84.00 to $88.00 and gave the company an outperform rating in a research note on Friday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $75.77.

Masco Stock Up 0.3 %

Shares of MAS opened at $77.69 on Friday. Masco has a 12 month low of $47.66 and a 12 month high of $78.94. The firm’s 50 day moving average is $68.95 and its 200-day moving average is $71.37. The stock has a market capitalization of $17.11 billion, a PE ratio of 19.04, a P/E/G ratio of 2.45 and a beta of 1.24. The company has a current ratio of 1.76, a quick ratio of 1.12 and a debt-to-equity ratio of 16.18.

Masco (NYSE:MAS) last announced its earnings results on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.18 by $0.02. Masco had a net margin of 11.59% and a return on equity of 602.39%. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period last year, the firm earned $1.19 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities research analysts forecast that Masco will post 4.08 EPS for the current year.

Masco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Friday, August 2nd will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, August 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.49%. Masco’s dividend payout ratio (DPR) is presently 28.43%.

Hedge Funds Weigh In On Masco

Hedge funds have recently modified their holdings of the business. Jackson Creek Investment Advisors LLC acquired a new position in shares of Masco during the fourth quarter worth $627,000. Norges Bank acquired a new position in shares of Masco during the fourth quarter worth $122,144,000. Intech Investment Management LLC acquired a new position in shares of Masco during the fourth quarter worth $975,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Masco by 14.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 542,096 shares of the construction company’s stock worth $42,245,000 after purchasing an additional 67,806 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Masco in the first quarter valued at $1,903,000. Institutional investors and hedge funds own 93.91% of the company’s stock.

Masco Company Profile

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.