MasterBrand (NYSE:MBC) Announces Earnings Results

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

MasterBrand Price Performance

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

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

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.