The Middleby Co. (NASDAQ:MIDD) Expected to Post Earnings of $2.18 Per Share

Equities analysts forecast that The Middleby Co. (NASDAQ:MIDDGet Rating) will post $2.18 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Middleby’s earnings. The lowest EPS estimate is $2.10 and the highest is $2.24. Middleby reported earnings of $2.11 per share in the same quarter last year, which suggests a positive year over year growth rate of 3.3%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Middleby will report full-year earnings of $9.57 per share for the current year, with EPS estimates ranging from $9.40 to $9.78. For the next fiscal year, analysts expect that the business will report earnings of $10.55 per share, with EPS estimates ranging from $9.90 to $11.55. Zacks’ EPS calculations are a mean average based on a survey of research firms that follow Middleby.

Middleby (NASDAQ:MIDDGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The industrial products company reported $2.13 EPS for the quarter, topping the consensus estimate of $2.12 by $0.01. Middleby had a net margin of 13.91% and a return on equity of 19.53%. The firm had revenue of $994.68 million for the quarter, compared to analysts’ expectations of $934.97 million. During the same period in the previous year, the firm posted $1.79 EPS. The company’s revenue for the quarter was up 31.2% on a year-over-year basis.

A number of equities research analysts have recently issued reports on the stock. TheStreet cut shares of Middleby from a “b-” rating to a “c+” rating in a report on Wednesday, May 11th. KeyCorp dropped their target price on shares of Middleby from $200.00 to $182.00 in a report on Wednesday, May 11th. Robert W. Baird dropped their target price on shares of Middleby from $211.00 to $201.00 in a report on Wednesday, May 11th. StockNews.com initiated coverage on shares of Middleby in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Citigroup decreased their price target on shares of Middleby to $180.00 and set a “na” rating on the stock in a research note on Monday, May 16th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Middleby has an average rating of “Buy” and a consensus price target of $193.57.

Shares of MIDD stock opened at $140.55 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.98 and a current ratio of 1.99. The firm’s 50-day moving average is $154.63 and its 200-day moving average is $174.82. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 16.46 and a beta of 1.56. Middleby has a 52-week low of $127.02 and a 52-week high of $201.34.

In other Middleby news, CEO Timothy John Fitzgerald bought 7,500 shares of the firm’s stock in a transaction on Thursday, May 12th. The shares were purchased at an average price of $132.29 per share, for a total transaction of $992,175.00. Following the transaction, the chief executive officer now directly owns 20,000 shares in the company, valued at approximately $2,645,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert A. Nerbonne purchased 600 shares of the business’s stock in a transaction dated Monday, March 14th. The shares were purchased at an average cost of $168.84 per share, with a total value of $101,304.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 9,550 shares of company stock worth $1,295,856. Company insiders own 1.24% of the company’s stock.

Several institutional investors have recently modified their holdings of MIDD. Ovata Capital Management Ltd bought a new stake in shares of Middleby during the 3rd quarter worth approximately $2,864,000. Norges Bank bought a new position in Middleby in the 4th quarter valued at approximately $146,503,000. Boston Partners lifted its stake in Middleby by 7,624.4% in the 4th quarter. Boston Partners now owns 636,180 shares of the industrial products company’s stock valued at $125,200,000 after purchasing an additional 627,944 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in Middleby by 1,266.0% in the 3rd quarter. Balyasny Asset Management LLC now owns 349,795 shares of the industrial products company’s stock valued at $59,644,000 after purchasing an additional 379,795 shares during the last quarter. Finally, Select Equity Group L.P. lifted its stake in Middleby by 91.8% in the 1st quarter. Select Equity Group L.P. now owns 690,159 shares of the industrial products company’s stock valued at $113,145,000 after purchasing an additional 330,359 shares during the last quarter. 99.88% of the stock is owned by institutional investors.

Middleby Company Profile (Get Rating)

The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, 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; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions.

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Earnings History and Estimates for Middleby (NASDAQ:MIDD)

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