Masonite International Corporation (NYSE:DOOR) Expected to Post Quarterly Sales of $545.91 Million

Wall Street analysts forecast that Masonite International Corporation (NYSE:DOOR) will post sales of $545.91 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Masonite International Corporation’s earnings. The highest sales estimate is $553.26 million and the lowest is $541.46 million. Masonite International Corporation posted sales of $513.99 million in the same quarter last year, which suggests a positive year over year growth rate of 6.2%. The company is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, August 9th.

On average, analysts expect that Masonite International Corporation will report full-year sales of $545.91 million for the current year, with estimates ranging from $2.09 billion to $2.13 billion. For the next year, analysts expect that the company will post sales of $2.28 billion per share, with estimates ranging from $2.26 billion to $2.29 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Masonite International Corporation.

Masonite International Corporation (NYSE:DOOR) last announced its quarterly earnings results on Monday, May 8th. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.05. Masonite International Corporation had a return on equity of 14.73% and a net margin of 5.29%. The business had revenue of $487.18 million for the quarter, compared to analyst estimates of $497.51 million. During the same quarter in the prior year, the company posted $0.57 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis.

A number of brokerages have recently commented on DOOR. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Masonite International Corporation in a research report on Monday, July 24th. Zacks Investment Research raised Masonite International Corporation from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Monday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Masonite International Corporation in a research report on Friday, June 16th. Instinet lowered their price objective on Masonite International Corporation from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday, May 9th. Finally, Nomura began coverage on Masonite International Corporation in a research report on Wednesday, April 12th. They issued a “buy” rating and a $50.00 price objective for the company. Nine analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of $79.44.

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Masonite International Corporation (NYSE:DOOR) opened at 73.00 on Wednesday. The stock has a 50 day moving average price of $75.77 and a 200 day moving average price of $75.57. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 21.61 and a beta of 1.26. Masonite International Corporation has a 52 week low of $55.60 and a 52 week high of $85.30.

In related news, insider Robert Edgar Lewis sold 3,500 shares of Masonite International Corporation stock in a transaction on Monday, May 15th. The stock was sold at an average price of $74.08, for a total value of $259,280.00. Following the transaction, the insider now owns 22,618 shares in the company, valued at $1,675,541.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.19% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in shares of Masonite International Corporation by 46.3% in the second quarter. Principal Financial Group Inc. now owns 6,297 shares of the company’s stock worth $475,000 after buying an additional 1,994 shares during the last quarter. Renaissance Group LLC boosted its position in shares of Masonite International Corporation by 15.9% in the second quarter. Renaissance Group LLC now owns 5,382 shares of the company’s stock worth $406,000 after buying an additional 738 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Masonite International Corporation by 18.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,656 shares of the company’s stock worth $125,000 after buying an additional 258 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Masonite International Corporation by 1.1% in the second quarter. Prudential Financial Inc. now owns 3,520 shares of the company’s stock worth $266,000 after buying an additional 40 shares in the last quarter. Finally, Great Lakes Advisors LLC boosted its position in shares of Masonite International Corporation by 22.9% in the second quarter. Great Lakes Advisors LLC now owns 35,414 shares of the company’s stock worth $2,674,000 after buying an additional 6,597 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

About Masonite International Corporation

Masonite International Corporation is designer and manufacturer of interior and exterior doors for the residential new construction; the residential repair, renovation and remodeling, and the non-residential building construction markets. The Company principally operates in North America; Europe, Asia and Latin America, and Africa.

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