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

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

MasterBrand Price Performance

Shares of MasterBrand stock traded down $0.35 during trading on Thursday, reaching $17.32. 1,116,597 shares of the stock traded hands, compared to its average volume of 920,963. MasterBrand has a 52-week low of $11.38 and a 52-week high of $20.67. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.24 and a quick ratio of 1.43. The business has a fifty day simple moving average of $17.55 and a two-hundred day simple moving average of $16.58. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 12.80 and a beta of 1.53.

Insider Buying and Selling

In other MasterBrand news, CAO Mark A. Young sold 4,715 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $737,266.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other MasterBrand news, CAO Mark A. Young sold 4,715 shares of the stock in a transaction on Friday, September 13th. The shares were 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 in the company, valued at $737,266.84. This trade 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 available through this link. Also, Director Ann F. Hackett sold 17,589 shares of the business’s stock in a transaction dated 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 owns 45,520 shares in the company, valued at approximately $726,044. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,806 shares of company stock worth $365,567. Corporate insiders own 1.38% of the company’s stock.

Analysts Set New Price Targets

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

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.