Middleby (MIDD) to Release Quarterly Earnings on Thursday

Middleby (NASDAQ:MIDD) is scheduled to issue its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $2.48 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

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

Middleby Stock Performance

Shares of NASDAQ MIDD opened at $140.27 on Tuesday. Middleby has a 1 year low of $109.59 and a 1 year high of $161.01. 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 company’s fifty day moving average price is $137.39 and its 200 day moving average price is $133.87. The company has a market capitalization of $7.54 billion, a PE ratio of 19.54 and a beta of 1.58.

Analyst Ratings Changes

Several equities analysts recently weighed in on MIDD shares. Canaccord Genuity Group restated a “buy” rating and issued a $164.00 price target on shares of Middleby in a research note on Saturday, September 14th. JPMorgan Chase & Co. upped their price objective on shares of Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. KeyCorp dropped their target price on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price target on shares of Middleby in a research report on Friday, September 13th. Finally, Robert W. Baird lifted their price objective on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average 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.