Stock Story -
Home-building design and manufacturing company Masco Corporation (NYSE:MAS) will be announcing earnings results tomorrow before the bell. Here's what investors should know.
Masco met analysts' revenue expectations last quarter, reporting revenues of $1.93 billion, down 2.7% year on year. It was a slower quarter for the company, with a miss of analysts' organic revenue estimates.
Is Masco a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Masco's revenue to decline 1.2% year on year to $2.10 billion, improving from the 9.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.18 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Masco has missed Wall Street's revenue estimates four times over the last two years.
Looking at Masco's peers in the building products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Simpson posted flat year-on-year revenue, missing analysts' expectations by 1.3%, and Apogee reported a revenue decline of 8.3%, in line with consensus estimates. Simpson's stock price was unchanged after the resultswhile Apogee was up 6.6%.
Read the full analysis of Simpson's and Apogee's results on StockStory.
There has been positive sentiment among investors in the building products segment, with share prices up 8.3% on average over the last month. Masco is up 7.7% during the same time and is heading into earnings with an average analyst price target of $79.4 (compared to the current share price of $70.55).
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