MasterBrand (NYSE:MBC) Updates FY 2024 Earnings Guidance

MasterBrand (NYSE:MBC) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.500-1.620 for the period, compared to the consensus earnings per share estimate of 1.490. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Separately, Loop Capital boosted 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.

MasterBrand Stock Down 2.0 %

MasterBrand stock traded down $0.36 during mid-day trading on Thursday, hitting $17.31. The company had a trading volume of 1,116,597 shares, compared to its average volume of 920,963. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 12.80 and a beta of 1.53. MasterBrand has a 1 year low of $11.38 and a 1 year high of $20.67. The business has a fifty day moving average of $17.55 and a 200 day moving average of $16.58. The company has a quick ratio of 1.43, a current ratio of 2.24 and a debt-to-equity ratio of 0.55.

MasterBrand (NYSE:MBC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $718.10 million during the quarter. MasterBrand had a return on equity of 16.58% and a net margin of 6.69%.

Insider Buying and Selling

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 transaction 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 $726,044. This trade 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 available through this link. In other MasterBrand 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 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 legal filing with the SEC, which can be accessed through this link. Also, CAO Mark A. Young sold 4,715 shares of the 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 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. Insiders sold a total of 22,806 shares of company stock valued at $365,567 over the last three months. 1.38% of the stock is currently owned by company insiders.

About MasterBrand

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.