Middleby (MIDD) Set to Announce Quarterly Earnings on Thursday

Middleby (NASDAQ:MIDD) will be releasing its earnings data before the market opens on Thursday, October 31st. Analysts expect Middleby to post earnings of $2.48 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. Middleby had a net margin of 9.90% and a return on equity of 15.25%. The company had revenue of $991.55 million for the quarter, compared to analyst estimates of $994.05 million. During the same period in the prior year, the firm earned $2.47 earnings per share. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, analysts expect Middleby to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Middleby Trading Down 0.5 %

NASDAQ MIDD opened at $136.12 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.43 and a current ratio of 2.50. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 18.96 and a beta of 1.58. The firm has a 50 day simple moving average of $137.46 and a 200-day simple moving average of $134.20. Middleby has a one year low of $109.59 and a one year high of $161.01.

Wall Street Analysts Forecast Growth

Several research firms have commented on MIDD. Robert W. Baird boosted their price target on shares of Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. KeyCorp cut their price target on Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Canaccord Genuity Group reiterated a “buy” rating and issued a $164.00 price objective on shares of Middleby in a research note on Friday, September 13th. Raymond James started coverage on shares of Middleby in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $156.17.

Middleby Company Profile

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.