MasterBrand Updates Earnings Guidance for FY 2024

On Tuesday morning, MasterBrand (NYSE:MBC - Get Free Report) announced an update regarding its earnings guidance for FY 2024. The company expects its earnings per share (EPS) to be in the range of 1.500 to 1.620. This outlook is notably higher than the consensus estimate of 1.490 from analysts.

Stock Performance Overview

During trading hours on Tuesday, MasterBrand stock increased by $0.73, reaching a price of $18.37. A total of 1,056,526 shares switched hands, surpassing its average trading volume of 913,709 shares. The firm currently holds a market capitalization of $2.33 billion, a price-to-earnings (P/E) ratio of 13.33, and a beta of 1.53, indicating its volatility compared to the market. Over the past year, MasterBrand's stock has seen a low of $11.38 and a high of $19.31, with its fifty-day moving average standing at $17.45 and its two-hundred-day moving average at $16.56. The company demonstrates strong financial health with a current ratio of 2.24, a quick ratio of 1.43, and a debt-to-equity ratio of 0.55.

Recent Financial Results

MasterBrand announced its latest quarterly earnings results on August 6th, where it reported an EPS of $0.45. This figure exceeded analysts' consensus prediction of $0.41 by $0.04. The company maintained a net margin of 6.69% and a return on equity of 16.58%, with total revenue for the quarter reported at $676.50 million.

Analyst Predictions

Looking ahead, Wall Street analysts are optimistic about MasterBrand's prospects. Recently, Loop Capital increased its target price on MasterBrand from $20.00 to $23.00 and maintained a “buy” rating.

Insider Transactions

In related news, insider trading activity revealed that CAO Mark A. Young sold 4,715 shares of the company's stock on September 13th for an average price of $16.33. This transaction totaled $76,995.95, leaving him with 45,148 shares, valued at $737,266.84. Additionally, Director Ann F. Hackett sold 17,589 shares on September 11th at an average price of $15.95, amounting to approximately $280,544.55. Following this sale, she owns 45,520 shares valued at $726,044. Insider trading in the last ninety days reflects a total sale of 22,806 shares worth $365,567, with insiders owning 1.38% of the company's stock.

About MasterBrand

MasterBrand, Inc. specializes in the manufacture and sale of residential cabinets throughout the United States and Canada. The company provides a variety of cabinetry products tailored for kitchens, bathrooms, and other home areas. MasterBrand sells its offerings to both remodeling and new construction markets, collaborating with dealers, retailers, and builders.

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