MasterBrand (NYSE:MBC) Issues Earnings Results, Misses Expectations By $0.16 EPS

MasterBrand (NYSE:MBC) posted its quarterly earnings data on Tuesday. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.16), FiscalAI reports. The company had revenue of $644.60 million for the quarter, compared to the consensus estimate of $607.60 million. MasterBrand had a return on equity of 10.88% and a net margin of 3.00%.

MasterBrand Stock Up 2.7%

NYSE MBC traded up $0.36 during mid-day trading on Tuesday, hitting $13.81. The company’s stock had a trading volume of 2,758,940 shares, compared to its average volume of 1,534,311. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 21.58 and a beta of 1.45. The company’s 50 day simple moving average is $11.91 and its 200 day simple moving average is $12.15. The company has a current ratio of 1.87, a quick ratio of 1.13 and a debt-to-equity ratio of 0.69. MasterBrand has a twelve month low of $9.33 and a twelve month high of $17.09.

Institutional Trading of MasterBrand

Several institutional investors and hedge funds have recently modified their holdings of the stock. Amundi lifted its stake in shares of MasterBrand by 15.8% in the 3rd quarter. Amundi now owns 22,637 shares of the company’s stock valued at $295,000 after acquiring an additional 3,082 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of MasterBrand in the third quarter worth $236,000. Tower Research Capital LLC TRC raised its holdings in MasterBrand by 532.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 21,598 shares of the company’s stock valued at $236,000 after buying an additional 18,185 shares during the last quarter. Corient Private Wealth LLC boosted its position in MasterBrand by 34.6% during the 2nd quarter. Corient Private Wealth LLC now owns 18,584 shares of the company’s stock valued at $203,000 after buying an additional 4,778 shares during the period. Finally, Engineers Gate Manager LP purchased a new stake in MasterBrand during the 2nd quarter valued at $267,000. 87.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MBC shares. Weiss Ratings reiterated a “hold (c)” rating on shares of MasterBrand in a research report on Thursday, January 22nd. Wall Street Zen cut shares of MasterBrand from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.00.

About MasterBrand

MasterBrand Inc is one of the largest manufacturers of cabinetry and home storage solutions in North America. The company specializes in designing, producing and distributing kitchen and bath cabinetry for both new construction and the remodeling markets. Its offerings span a broad spectrum of styles and price points, serving homebuilders, home improvement retailers and independent dealers.

MasterBrand’s product portfolio includes framed and frameless cabinet lines, bath vanities, closet systems and other organizational accessories.