Middleby (MIDD) Scheduled to Post Earnings on Thursday

Middleby (NASDAQ:MIDD) is scheduled to release 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. Parties that are interested in registering for the company’s conference call can do so using this link.

Middleby (NASDAQ:MIDD) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.39 EPS for the quarter, beating 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 business had revenue of $991.55 million during the quarter, compared to analysts’ expectations of $994.05 million. During the same period in the prior year, the company earned $2.47 earnings per share. The business’s revenue 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 Stock Performance

NASDAQ MIDD opened at $136.12 on Thursday. The firm has a market cap of $7.32 billion, a P/E ratio of 18.96 and a beta of 1.58. Middleby has a 52-week low of $109.59 and a 52-week high of $161.01. The business’s 50-day moving average price is $137.46 and its 200 day moving average price is $134.20. The company has a quick ratio of 1.43, a current ratio of 2.50 and a debt-to-equity ratio of 0.69.

Analyst Ratings Changes

MIDD has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Raymond James assumed coverage on shares of Middleby in a research report on Friday, June 28th. They set a “market perform” rating for the company. Canaccord Genuity Group reiterated a “buy” rating and set a $164.00 price target on shares of Middleby in a research note on Friday, September 13th. KeyCorp cut their price target on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $164.00 price objective on shares of Middleby in a report on Saturday, September 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.17.

About Middleby

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.