Jefferies Reaffirms Hold on Masco Corp. (MAS)

Jefferies is out with its report today on Masco Corp. MAS, reaffirming Hold. In a note to clients, Jefferies writes, "Masco Corporation delivered a fourth quarter loss of ($0.08) in EPS and $105 million in EBITDA versus our estimates of $0.02 per share and $183 million in EBITDA. Consensus estimates were $(0.02) loss per share and $164 million in EBITDA. Revenues were $1.7 billion, down (8.6%) Y/Y, below our estimates of $1.8 billion. We note both US and international sales declined during the quarter. Adjusted gross margins declined to 23.2% from 26.1% a year ago." Jefferies has a $12 PT on MAS. At the time of posting, shares of MAS were trading at $13.38, down 5.71% from Monday's close.