Wall Street analysts forecast that Middleby Corp (NASDAQ:MIDD) will announce $1.77 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made estimates for Middleby’s earnings, with the lowest EPS estimate coming in at $1.70 and the highest estimate coming in at $1.83. Middleby posted earnings per share of $1.63 during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.6%. The company is expected to issue its next quarterly earnings report on Wednesday, August 14th.
On average, analysts expect that Middleby will report full year earnings of $6.92 per share for the current fiscal year, with EPS estimates ranging from $6.80 to $7.00. For the next fiscal year, analysts expect that the firm will post earnings of $7.75 per share, with EPS estimates ranging from $7.33 to $8.01. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Middleby.
Middleby (NASDAQ:MIDD) last issued its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.01. Middleby had a return on equity of 21.91% and a net margin of 11.35%. The firm had revenue of $686.80 million for the quarter, compared to analysts’ expectations of $683.01 million. During the same period in the previous year, the firm posted $1.20 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year.
A number of analysts have recently commented on MIDD shares. BidaskClub cut ZIX from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th. ValuEngine cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Jefferies Financial Group assumed coverage on Middleby in a research report on Wednesday, April 3rd. They issued a “hold” rating and a $135.00 price objective on the stock. CL King raised Middleby from a “buy” rating to a “strong-buy” rating and set a $160.00 price objective on the stock in a research report on Wednesday, April 3rd. Finally, Zacks Investment Research raised Gerdau from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $147.43.
Shares of MIDD opened at $139.65 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.95 and a current ratio of 1.98. The stock has a 50 day moving average of $134.97. Middleby has a 52 week low of $96.65 and a 52 week high of $142.98. The company has a market cap of $7.67 billion, a PE ratio of 22.89 and a beta of 1.63.
Several large investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its position in Middleby by 14.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,617 shares of the industrial products company’s stock valued at $268,000 after buying an additional 330 shares in the last quarter. Northern Trust Corp increased its stake in shares of Middleby by 7.0% in the 4th quarter. Northern Trust Corp now owns 352,803 shares of the industrial products company’s stock worth $36,243,000 after purchasing an additional 23,172 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Middleby by 3.8% in the 4th quarter. Hsbc Holdings PLC now owns 5,756 shares of the industrial products company’s stock worth $592,000 after purchasing an additional 211 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Middleby by 19.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 383,266 shares of the industrial products company’s stock worth $39,371,000 after purchasing an additional 63,349 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Middleby by 27.1% in the 4th quarter. Principal Financial Group Inc. now owns 2,923 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 623 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.
The Middleby Corporation designs, manufactures, markets, distributes, and services 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 foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.
Featured Article: Earnings Reports
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.