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

MasterBrand (NYSE:MBC) issued its earnings results on Tuesday. The company reported $0.40 EPS for the quarter, beating the consensus estimate 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 business had revenue of $718.10 million for the quarter. MasterBrand updated its FY 2024 guidance to 1.500-1.620 EPS.

MasterBrand Stock Performance

Shares of MBC traded down $0.35 during mid-day trading on Thursday, hitting $17.32. 1,116,597 shares of the company traded hands, 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. The stock has a 50-day moving average price of $17.55 and a two-hundred day moving average price of $16.58. MasterBrand has a 1 year low of $11.38 and a 1 year high of $20.67. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.43 and a current ratio of 2.24.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, CAO Mark A. Young sold 4,715 shares of MasterBrand 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other MasterBrand news, Director Ann F. Hackett sold 17,589 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $15.95, for a total value of $280,544.55. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark A. Young sold 4,715 shares of MasterBrand stock in a transaction 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 transaction, the chief accounting officer now owns 45,148 shares in the company, valued at $737,266.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,806 shares of company stock valued at $365,567. Company insiders own 1.38% of the company’s stock.

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.