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

MasterBrand (NYSE:MBC - Get Free Report) posted its quarterly 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. The business had revenue of $718.10 million for 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 Stock Performance

Shares of MasterBrand stock traded down $0.44 during midday trading on Thursday, hitting $17.23. The company had a trading volume of 529,730 shares, compared to its average volume of 918,246. The business's 50 day simple moving average is $17.55 and its two-hundred day simple moving average is $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 current ratio of 2.24 and a quick ratio of 1.43. The stock has a market cap of $2.19 billion, a PE ratio of 12.80 and a beta of 1.53.

Insider Activity

In other news, CAO Mark A. Young sold 4,715 shares of the firm's stock in a transaction dated 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 directly owns 45,148 shares of the company's stock, valued at approximately $737,266.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Mark A. Young sold 4,715 shares of the business's stock in a transaction on Friday, September 13th. The shares were 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 in the company, valued at approximately $737,266.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann F. Hackett sold 17,589 shares of the company'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 sale, the director now directly owns 45,520 shares in the company, valued at $726,044. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,806 shares of company stock valued at $365,567. Insiders own 1.38% of the company's stock.

Analysts Set New Price Targets

Separately, Loop Capital boosted their price objective 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.

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.

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