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

MasterBrand (NYSE:MBC) released its quarterly earnings data 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. The business 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

Shares of NYSE:MBC traded down $0.35 during midday trading on Thursday, reaching $17.32. 1,116,597 shares of the company were exchanged, compared to its average volume of 920,963. The stock has a market cap of $2.20 billion, a PE ratio of 12.80 and a beta of 1.53. MasterBrand has a one year low of $11.38 and a one year high of $20.67. The company has a current ratio of 2.24, a quick ratio of 1.43 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average is $17.55 and its two-hundred day moving average is $16.58.

Wall Street Analyst Weigh In

Separately, Loop Capital raised their price target on 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 MasterBrand 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 completion of the transaction, the director now owns 45,520 shares in the company, valued at approximately $726,044. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the director now 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 Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark A. Young sold 4,715 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $16.33, for a total value of $76,995.95. Following the sale, the chief accounting officer now owns 45,148 shares of the company’s stock, valued at approximately $737,266.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,806 shares of company stock valued at $365,567 in the last quarter. 1.38% of the stock is currently owned by 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.