MasterBrand (NYSE:MBC) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

MasterBrand (NYSE:MBC) posted its quarterly earnings results on Tuesday. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06, Zacks reports. MasterBrand had a net margin of 6.69% and a return on equity of 16.58%. The company had revenue of $718.10 million for the quarter. MasterBrand updated its FY 2024 guidance to 1.500-1.620 EPS.

MasterBrand Trading Down 2.0 %

Shares of NYSE:MBC traded down $0.35 during mid-day trading on Thursday, hitting $17.32. The company had a trading volume of 1,116,597 shares, compared to its average volume of 920,963. The firm has a fifty day moving average price of $17.55 and a 200 day moving average price of $16.58. The company has a market capitalization of $2.20 billion, a PE ratio of 12.80 and a beta of 1.53. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.24 and a quick ratio of 1.43. MasterBrand has a one year low of $11.38 and a one year high of $20.67.

Insiders Place Their Bets

In related news, Director Ann F. Hackett sold 17,589 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $15.95, for a total value of $280,544.55. Following the completion of the sale, the director now directly owns 45,520 shares of the company’s stock, valued at approximately $726,044. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Ann F. Hackett sold 17,589 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $15.95, for a total value of $280,544.55. Following the transaction, the director now owns 45,520 shares in the company, valued at approximately $726,044. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark A. Young sold 4,715 shares of MasterBrand stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $16.33, for a total transaction of $76,995.95. Following the completion of the transaction, the chief accounting officer now owns 45,148 shares of the company’s stock, valued at $737,266.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,806 shares of company stock worth $365,567. Insiders own 1.38% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Loop Capital upped their price target on shares of MasterBrand from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, October 17th.

MasterBrand Company Profile

MasterBrand, Inc engages in the manufacture and sale of residential cabinets in the United States and Canada. The company offers a range of residential cabinetry products for the kitchen, bathroom, and other parts of the home. It sells its products to remodeling and new construction markets through dealers, retailers, and builders.