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

by · The Cerbat Gem

MasterBrand (NYSE:MBC – Get Free Report) posted its quarterly earnings results 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. MasterBrand had a net margin of 6.69% and a return on equity of 16.58%. The company had revenue of $718.10 million for the quarter. MasterBrand updated its FY 2024 guidance to 1.500-1.620 EPS.

MasterBrand Trading Down 2.0 %

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

Insiders Place Their Bets

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 value 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 approximately $726,044. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Ann F. Hackett sold 17,589 shares of the company’s 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark A. Young sold 4,715 shares of MasterBrand 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 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. Over the last 90 days, insiders have sold 22,806 shares of company stock worth $365,567. Insiders own 1.38% of the company’s stock.

Wall Street Analyst Weigh In

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

Check Out Our Latest Report on MBC

MasterBrand Company Profile

(Get Free Report)

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.

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